AEON prepares for MainNet Hard Fork

Along with the recent Sophia upgrade, MainNet Hard Fork is scheduled on June 3
01 June 2018   1234

AEON project announced the scheduled Hard Fork along with the release of Sophia update. As Sophia gets released, MainNet Hard Fork upgrade is going live on June 3. The upgrade block height is set at 963500. Following the MainNet fork, difficulty will be reset to 2,000,000,000. Recently, AEON codebase was rebased to the latest branch of Monero, the network version was bumped from v1 to v7 thus potential 3rd-party software glitches are addressed.

AEON positions itself as a sparring partner to keep Monero healthy and strong. It is a lightweight CryptoNote digital currency that boasts secure transactions, privacy and untraceability and is mobile-friendly thanks to 1MB scratchpad.

At the moment of publication, AEON market parameters are as follows:

Average price 1.71 USD
Market cap 27,023,984 USD
Volume (24H) 68,391 USD

Financial Establishments warned by UK Central Bank

The Bank of England’s Prudential Regulation Authority (PRA) reminded financial institutions`CEOs that activity with crypto-assets may cause “reputation risks”
29 June 2018   680

In a letter dated June 28th to CEOs of banks, insurance firms, and designated investment companies, PRA Deputy Governor Sam Woods briefs leaders to act in correspondance to regulatory rules and work with the PRA to reveal any sort of information the financial watchdog would deem as important.

In his letter Woods writes how the cryptocurrency industry has experienced fast growth but is filled with “high price volatility and relative illiquidity.” He claims it is vulnerable to nefarious activities like money laundering and terrorist financing. The letter approves: “crypto-assets should not be considered as currency for prudential purposes,” but discussions are still going on about the prudential treatment of crypto-assets.

The letter points out risk strategies and management systems the PRA considers as appropriate in demands to cryptocurrency. The members and senior leadership demand PRA approved individual to sign off on any sort of risk assessment procedure a firm has “for any planned business direct exposure to crypto-assets and/or entities heavily exposed to crypto-assets.”

The PRA as well recommends businesses to conduct their necessary diligence before exposure to crypto-assets and directs firm leadership to rely on expert voices to assess risk. Finally, the watchdog awaits firms to keep governing contacts abreast about any cryptocurrency-related activity or planned exposure and give a risk estimation about supposed exposure.