Sprouts undergoes swap into Auxilium

Auxilium announced the swap date for Sprouts holders on June 21 with three weeks period of the active swap
06 June 2018   313

As the complete PoS implementation proved to require much longer period, PoW will be the consensus mechanism for Auxilium blockchain. The TestNet will be open to the public up until the moment AEPoS is ready for the roll-out. In the meantime, Auxilium has initiated a swap platform for Sprouts holders to go live on June 21. The end date for the swap is announced to be July 11.

The swap follows the completion of the Auxilium Wallet that is based on Ethereum codebase with PoW. Auxilium Global is a project aiming to provide help conserve, distribution of renewable resources and charity. The long term goal is to develop he Auxilium wallet with PoS. Auxilium will eventually replace Sprouts Coin. More details can be found at an official Q & A forum here. Price-wise, Sprouts Coin parameters at the moment of publication are as follows:

Average price 0.0000000646 USD
Market cap 7,007,661 USD
Volume (24H) 13,136 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   209

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.