We highlight Zürcher Kantonalbank’s new crypto service, the signing of the world’s first global AI treaty by the UK, EU, and US, and other key stories from the region.

German Police Warn of New Bitcoin Scam

The Bavarian State Office of Criminal Investigation (LKA Bayern) has issued a warning about a new crypto scam targeting unsuspecting victims in Munich. Scammers are leaving plastic bags containing fake Bitcoin wallet entry codes and payment receipts in public areas, such as streets and park benches.

The scam involves victims scanning a QR code, which redirects them to a fake website promising a payout in exchange for a 3% fee. However, the payment does not go through, causing the victim to lose money. Authorities warn that victims may unknowingly face legal repercussions, as scanning the QR code can be considered an attempt to fraudulently obtain someone else’s money.

Switzerland’s Fourth-Largest Bank Launches New Crypto Service

Zürcher Kantonalbank (ZKB), Switzerland’s fourth-largest bank, has launched a new service allowing retail customers to buy, sell, and hold Bitcoin and Ethereum. This offering is made possible through a collaboration with Crypto Finance, a digital asset broker owned by Deutsche Börse. Customers can access BTC and ETH via ZKB’s Mobile App, eBanking platform, and other existing channels.

Switzerland has long been a leader in the digital asset space, with many financial institutions offering cryptocurrency trading services. ZKB is no newcomer to the crypto market, having issued the world’s first digital bond on Switzerland’s SIX Digital Exchange (SDX) in 2021.

EU, UK, and US Sign Global AI Treaty

The US, EU, and UK have signed the world’s first global AI treaty, aiming to protect human rights and hold AI systems accountable for any harm or discrimination they cause. While the treaty sets crucial standards, penalties such as fines for violations have not been announced yet.

The European Union has already made significant progress in regulating AI with the AI Act, which came into effect in August. This new law aims to control the development and use of advanced AI systems, particularly those with powerful computing capabilities. However, the act has been controversial, with companies like Meta arguing that the rules are too strict and are hurting innovation.

French City Rouen Now Accepts Bitcoin Payments for Groceries

France is seeing a growing number of businesses accepting cryptocurrency payments, with the latest addition being a grocery store in Rouen. Carrefour Express in Rouen has become one of the first supermarkets in France to accept Bitcoin payments, using the Swiss app Bridge Wallet, similar to Revolut, which facilitates crypto transactions.

Rouen is not alone in embracing crypto payments. Several hundred institutions across France now accept cryptocurrencies, with major hubs like Paris, Nantes, and Lyon leading the way. In Lyon, initiatives like the Comptoir Brunet restaurant and Bitcoin Lyon dealer are actively promoting crypto adoption.

Key Takeaways

• Zürcher Kantonalbank has launched a new crypto service, allowing retail customers to buy, sell, and hold Bitcoin and Ethereum.
• The EU, UK, and US have signed the world’s first global AI treaty, aiming to protect human rights and hold AI systems accountable.
• German police have warned of a new Bitcoin scam targeting unsuspecting victims in Munich.
• France is seeing a growing number of businesses accepting cryptocurrency payments, with a grocery store in Rouen becoming one of the first supermarkets to accept Bitcoin payments.