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RoboFi News Review: Top Crypto News of the Week

This week’s news roundup is presented below.

Hedge fund Three Arrows being probed by U.S. regulators — Bloomberg News

Bloomberg News reported on Monday that the Commodity Futures Trading Commission and the Securities and Exchange Commission are looking into whether the crypto hedge fund Three Arrows Capital (3AC), which filed for bankruptcy in July, misled investors. According to a report that cited two people with knowledge of the situation, the regulators are looking into whether the Singapore-based fund overstated the strength of its balance sheet and did not register with agencies.

Crypto lender Voyager settles with executives who approved risky loan

Voyager Digital, a cryptocurrency lender, has consented to the settlement of claims against company executives who approved a risky loan of nearly one billion dollars to a failed cryptocurrency hedge fund called Three Arrows Capital (3AC) after performing minimal due diligence. This error contributed to Voyager Digital’s own insolvency.

Why the jurisdiction of choice for trust planning with digital assets has to be Wyoming

Advisors and fiduciaries are under increased pressure to learn about digital assets so they can help their clients manage and secure this emerging asset class. Determining which jurisdiction should regulate trust planning is an important stage in the process of safeguarding and administering digital assets. Because of its lenient trust, tax, and privacy regulations, Wyoming is a popular choice.

South African crypto platforms must be licensed in 2023 -regulator

It was announced Thursday by South Africa’s financial conduct regulator that cryptocurrency financial institutions need to apply for a license between June 1 and November 20 2023. At a news conference on Wednesday, Eugene Du Toit, head of the Regulatory Frameworks Department at the Financial Sector Conduct Authority, clarified that the agency’s pronouncement that crypto assets are financial products does not make them legal money.

U.S. sues crypto ‘mixer’ to recover $60 million government penalty

The U.S. Justice Department sued the founder of a cryptocurrency “mixer” on Wednesday to get him to pay back a $60 million civil penalty that U.S. financial regulators gave him in 2020 for allegedly failing to keep an effective anti-money laundering program. The lawsuit was filed in federal court in Washington, D.C., against Larry Harmon of Ohio. Harmon ran a “mixer” or “tumbler” for cryptocurrencies called Helix. This was an anonymous service that U.S. authorities said could send virtual currency without revealing the source or owner.

About RoboFi

RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.

About VICS

VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.

Official Link

Website | Twitter | Telegram| Telegram News | Reddit | Litepaper

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