RoboFi News Review: Top Crypto News of the Week
This week’s news roundup is presented below.
Global rules leave crypto firms with no place to hide, says G20 watchdog
According to the Financial Stability Board of the G20, crypto firms have been compelled to implement essential precautions to avoid incidents like the ones witnessed at FTX exchange and other crypto-related losses. The FSB released its conclusive guidelines on Monday, which were requested by the G20, for overseeing companies involved in trading cryptoassets, including bitcoin. Additionally, the watchdog updated its existing recommendations for stablecoins, taking into account the collapse of TerraUSD/Luna coins. Read More.
Crypto firms facing US SEC charges find hope in Ripple ruling, experts say
Experts predict that a recent legal triumph achieved by a cryptocurrency developer against the U.S. Securities and Exchange Commission (SEC) will serve as a catalyst for Coinbase (COIN.O) and other companies to push back against the agency’s attempts to assert control over the crypto industry. In a groundbreaking ruling on Thursday, Ripple Labs Inc. emerged victorious as the court declared that the sale of its XRP token on exchanges did not breach securities law. This ruling represents a significant setback for the SEC, marking the first major blow to their decade-long enforcement efforts targeting the cryptocurrency sector. As a result, various other crypto firms accused of operating digital asset exchanges unlawfully are now exploring strategies to leverage the implications of this ruling, according to two anonymous sources familiar with the matter, who requested anonymity due to a lack of authorization to speak publicly. Read More.
Societe Generale obtains France’s first crypto licence
Societe Generale (SOGN.PA), a French bank, has achieved a significant milestone by becoming the first company in France to secure a license for providing cryptocurrency services. This development comes as part of a broader trend where an increasing number of mainstream financial institutions worldwide are embracing cryptocurrencies this year. The bank’s dedicated crypto unit, Forge, has been granted a license to offer various crypto-related services, including crypto custody, trading, and sales. This authorization was officially granted as of Tuesday, as confirmed by France’s AMF market regulator. The news was initially reported by CoinDesk, a reputable crypto news outlet. This move marks a significant step forward for Societe Generale in entering the crypto market and catering to the growing demand for digital asset services. Read More.
Coinbase is a crypto conundrum, squared
Coinbase Global (COIN.O) has experienced a remarkable recovery in its stock value following the tumultuous cryptocurrency market downturn last year. However, the surge in the digital exchange’s stock price seems to defy conventional expectations and reasoning. The evaluation of Coinbase is heavily reliant on unpredictable factors, making it challenging to gauge accurately. Furthermore, even in an optimistic scenario, the market’s valuation of the company, led by former software engineer Brian Armstrong, remains a puzzling enigma, with its current worth standing at an astonishing $25 billion. Read More
North Korean hackers breached a US tech company to steal crypto
On Thursday, both cybersecurity experts and the affected firm, JumpCloud, revealed that a hacking group supported by the North Korean government successfully infiltrated an American IT management company. The breach occurred in late June, with the hackers gaining access to JumpCloud’s systems. Subsequently, they utilized this access to target a small number of JumpCloud’s clients, numbering fewer than five, as stated in a blog post by JumpCloud. While the specific customers impacted were not disclosed by JumpCloud, cybersecurity companies CrowdStrike Holdings and Mandiant, who are assisting JumpCloud and one of its clients, respectively, asserted that the hackers responsible have a history of targeting cryptocurrency-related entities. This indicates that the primary objective of the attack was likely cryptocurrency theft. Read More
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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.
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