Mithril is rolling out Vault Beta

Mithril team announced the release of its Vault Beta on June 30 with additional features to be implemented via a series of stages
27 June 2018   634

A multi-functional cryptocurrency vault by Mithril project - Mithril Vault, will be released as Beta on June 30. Three major features of the initial release stage include:

  users can connect Lit and Mithril accounts and sync their MITH with the option to withdraw MITH to any ERC20-compatible wallet;
  Vault supports both MITH and ETH deposits;
  instant exchange between MITH and ETH;
  other cryptocurrency pairs are under development;
  users can stake as they deposit MITH into their Mithril Vault


There are coming update stages to Mithril Vault that will bring more features to the platform. At the moment of publication, Mithril (MITH) market parameters are as follows:

Average price 0.374012 USD
Market cap 114,656,598 USD
Volume (24H) 19,395,200 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   697

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.