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The UK has called for restraint and diplomacy after Israel launched airstrikes on Iran early on Friday.

The Israeli military said a “pre-emptive, precise, combined offensive based on high-quality intelligence” had been launched against targets in Iran – called Operation Rising Lion.

Follow latest: Israel attacks Iran’s nuclear sites

According to Iranian state media, six nuclear scientists were killed in Israel’s strikes. An Israeli military spokesperson said Iran had launched more than 100 drones towards the country.

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Analysis: ‘This is the big one’

In a statement, Prime Minister Sir Keir Starmer urged “all parties to step back and reduce tensions urgently”.

He added: “Escalation serves no one in the region. Stability in the Middle East must be the priority and we are engaging partners to de-escalate.

“Now is the time for restraint, calm and a return to diplomacy.”

Foreign Secretary David Lammy added that “this is a dangerous moment” and said “stability in the Middle East is vital for global security”.

The US said it had not been involved in Israel’s attack on Iran, and warned against any retaliation targeting American interests or personnel.

US President Donald Trump had previously urged Israeli Prime Minister Benjamin Netanyahu not to attack Iran while Washington negotiates a nuclear deal with the country.

Speaking to Sky News, British industry minister Sarah Jones said the UK was also not involved in the Israeli military operation.

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Asked if Israel was right to say that it had no choice but to carry out dozens of airstrikes on Iranian military sites overnight, Ms Jones said: “I don’t think anybody questions how destabilising Iran is being.”

“This is escalating, not de-escalating the situation. And we would urge restraint,” she added.

“We need to be calm at this point, work with our allies, do what we can to stop escalation, because we do not believe escalation is going to be helpful in the region or the wider, wider world, of course.”

The minister said the “foreign secretary will say more in due course”.

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Crypto firm LevelField secures Illinois approval to buy Chicago bank

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Crypto firm LevelField secures Illinois approval to buy Chicago bank

Digital asset-focused fintech firm LevelField Financial said it has secured conditional regulatory approval to acquire Chicago-based Burling Bank, marking one of the most notable crypto-banking acquisitions in recent months.

The move could see LevelField become the first Federal Deposit Insurance Corporation-insured chartered bank to offer certain crypto-integrated banking services across all US states and territories, LevelField said in a statement on Monday. Details of the deal weren’t disclosed.

The approval from the Illinois Department of Financial and Professional Regulation puts Burling Bank one step closer to being renamed LevelField Bank. The parties are still awaiting approval from the Board of Governors of the Federal Reserve to become a bank holding company.

The newly-branded LevelField would seek to offer 24/7/365 crypto-banking services, including Bitcoin (BTC)-backed loans, Bitcoin rewards credit and debit cards, as well as digital asset trading and custody services.

Burling Bank is a relatively small commercial bank, with around $196 million in net assets and roughly $158 million in customer deposits, according to Visbanking data. 

Source: Gene A. Grant II

LevelField will focus on serving businesses in under-banked sectors, all while benefiting from the security and regulatory oversight of the US banking system, CEO Gene A. Grant II said.

“Today’s approval is an important milestone for LevelField. I am grateful to our investors and partners for backing the patient, disciplined work it took to meet the necessary supervisory standards that protect consumers and businesses and make the US the home of the world leading banking system.”

Crypto industry’s relationship with banks remain tense

The move also strengthens ties between the crypto and banking sectors in the US, which continue to face friction despite a recent rise in institutional adoption.