The five top news of the week in the field of cryptocurrencies are presented.
The five most outstanding news of the week are summarized below:
- Privacy tokens will be removed from Binance in Europe.
- Central Bank of Georgia will investigate crypto companies.
- Jimbos Protocol is offering a public reward of $800,000 to recover the stolen funds.
- Russia warns about the risks of saving in Bitcoin.
- Does Binance plan to lay off 20% of its employees?
Privacy Tokens to be removed from Binance in Europe
Starting June 26, privacy tokens will no longer be available to Binance clients in France, Italy, Poland, and Spain. This removal of Binance privacy tokens is a direct response to the stricter regulations in Europe regarding cryptocurrency and financial privacy.
A Binance spokesperson said that the affected tokens include: Decred (DCR), Dash (DASH), Zcash (ZEC), Horizen (ZEN), PIVX (PIVX), Navcoin (NAV), Secret (SCRT), Verge (XVG), Firo (FIRO), BEAM (BEAM), Monero (XMR) and MobileCoin (MOB).
Central Bank of Georgia to Investigate Crypto Companies
The Central Bank of Georgia has announced that it will investigate crypto companies in the country to assess their level of risk and protect consumers and the financial system in general. The investigation will focus on companies that offer cryptocurrency-related services, such as exchanges and wallets.
The Central Bank of Georgia has also committed to working closely with other government agencies and regulators to ensure that the crypto market in the country is safe and fair for all users.
Jimbos Protocol Offers $800,000 Public Reward to Recover Stolen Funds
Decentralized finance platform Jimbos Protocol has offered an $800,000 reward to the public after its hacker ignored a deal to return stolen funds.
Jimbos Protocol’s $800,000 public reward offer is an attempt to recover the stolen funds and encourage anyone with relevant information to come forward. The move is also a sign of the growing importance of security and transparency in the crypto space, and the role that bounties can play in protecting the market against cybercrime.
Russia Warns of Risks of Saving in Bitcoin
During his participation in the conference “Future Finance: Challenges and Opportunities” the head of the Financial Policy Department of the Russian Ministry of Finance, Ivan Chebeskov, warned the citizens of that country not to resort to Bitcoin and other cryptocurrencies after he acknowledge that there has been a significant decrease in the volume of savings stored in foreign fiat currencies.
Does Binance Plan to Lay Off 20% of Its Employees?
Binance has announced plans to lay off around 20% of its workforce. The move comes amid an increasingly volatile cryptocurrency market and heightened regulatory pressure around the world. Specifically, it is reassessing its talent base following an external report.
The layoffs at Binance will affect employees around the world and are expected to focus on areas such as customer service and regulatory compliance.
The move is a reminder of the importance of adaptability in the crypto industry and the need to adjust to changing market conditions and government regulations.
By Audy Castaneda
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