ChainFabricNews

Image source:  In a time when cryptocurrency is gaining serious attention in Italy, a powerful voice has stepped in with a reality check. Fabio Panetta , Governor of the Bank of Italy and a policymaker at the European Central Bank (ECB), has issued a firm warning: banks need to be extremely careful when dealing with crypto-assets. His concern? That offering crypto services might blur the lines for everyday people and damage public trust in the financial system. This came during the Bank of Italy’s annual report presentation on May 30, 2025 , and it’s already sparked conversations in both the banking and crypto communities. 🧠 What’s the Concern? According to Panetta, many people don’t fully understand the risks that come with crypto. Unlike traditional bank deposits, cryptocurrencies don’t offer any guarantees . There’s no safety net—no deposit insurance, no bank protection. And their prices? They swing up and down like a roller coaster. He stressed that when banks start offering c...

Image source: Knews In a shocking development that’s shaking up Europe’s crypto scene, authorities have uncovered a sprawling international money-laundering network — and Cyprus is right at the heart of it. The coordinated sting, led by Europol and Eurojust, connected criminal operations in Spain, France, Slovenia, and Cyprus. The gang allegedly laundered more than $100 million through a mix of cryptocurrency transactions and cold, hard cash. 💼 What Happened? Investigations revealed that Cyprus was used as a crucial “transit point” in this laundering web. Authorities believe that huge amounts of money were smuggled from Spain into Cyprus, disguised through property purchases, luxury car acquisitions, and crypto wallets. During the operation — which took place over several months and involved massive cross-border coordination — law enforcement seized: €29.5 million in digital assets €8.2 million in cash 36 luxury cars 14 high-end properties in Cyprus 🏝️ How Cyprus Got In...

Image source: CoinGabbar Ripple Labs has finally reached a major breakthrough in its long-standing legal battle with the U.S. Securities and Exchange Commission (SEC), and this could be a game-changer for the entire crypto world. The case, which began back in 2020, revolved around whether Ripple’s cryptocurrency, XRP , should be considered a security. For years, this legal uncertainty caused major ups and downs for XRP, and left investors wondering whether the token would survive. But now, after months of negotiation, Ripple has agreed to a settlement with the SEC. The company will pay $50 million —a reduced amount from the earlier $125 million fine. More importantly, the SEC has agreed to drop its appeal, and both sides are working to end the case officially. What Does This Mean for XRP? The settlement confirms that public sales of XRP are not considered securities . This is a huge deal. It brings much-needed clarity to how XRP can be bought, sold, and used. While some restrictions st...

Image source: Solanafloor In a major development that blends traditional banking with the fast-paced world of cryptocurrency, Société Générale , one of France’s largest banks, has announced the launch of a new US dollar-backed stablecoin . Named USD CoinVertible (USDCV) , this digital asset is expected to go live in July 2025 and will operate on both the Ethereum and Solana blockchains . This move signals a big shift in how traditional finance is starting to embrace blockchain technology and digital currencies. 💼 Backed by Real Dollars — With Real Oversight Unlike many crypto projects that struggle with regulation and transparency, USDCV is being launched by SG‑FORGE , Société Générale’s regulated digital asset arm. The coin will be fully backed by US dollar reserves held by BNY Mellon , one of the most trusted banks in the world. This means every USDCV token is backed by actual dollars, offering users peace of mind that the value is stable and secure. Regular audits and full complia...

Image source: Binance In a world where cryptocurrency is often misunderstood or portrayed as the “Wild West” of finance, a recent story from the Philippines shows just how powerful this technology can be when used the right way. Earlier this month, a shocking incident came to light—an organized group had kidnapped several individuals and demanded ransom payments in cryptocurrency. The attackers believed they could hide behind the anonymity of digital wallets. But things didn’t go as they had planned. Thanks to a quick response and smart collaboration between Philippine law enforcement and Binance , one of the world’s largest crypto exchanges, authorities were able to track down and freeze $3.5 million in ransom funds before the criminals could escape with it. Turning Technology Into a Tool for Justice In the past, criminals have used crypto to hide their tracks, assuming that digital transactions are untraceable. But in reality, blockchain technology—the foundation of all cryptocu...