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Lition is developing, FINMA is clarifying, Group-IB is insuring

11/07/2018
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  • Lition_electricity
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The blockchain from Lition for the sale of electricity, the Swiss FINMA gives an unofficial explanation. Group-IB launches crypto wallets insurance.

Group-IB launches cryptographic insurance system

International company Group-IB together with a subsidiary of insurance broker ASPIS SA launches a program to protect clients of cryptocurrency exchanges. Already, wallet owners at Kraken, Binance, CoinCheck and several other sites can insure their money.

To do this, there is used the technology Threat Intelligence, which is able to assess the risks of hacker attacks, security systems and statistics on the success of attacks. The cost of insurance is calculated individually and depends on the choice of the cryptoexchange.

Group-IB launches cryptographic insurance system

Lition sells electricity to Germans

At the beginning of 2018 in Germany, the Lition project was launched, with the help of which the residents of the country could directly purchase electricity. Now the company is summing up and reports that more than 700 households have become its regular customers.

The project works on the Ethereum platform and allows customers to save up to 20%. At the same time, the profit of power plants is increased by another 30%. This result is achieved through the purchase and sale directly, bypassing intermediaries. So far, the site has been operating in only 12 cities in Germany, where it has an official license. However, here they hope to expand the area of presence in the near future. The first results speak about the success of the initiative.

More about elictricity from Lition read here

Lition sells electricity to Germans

FINMA Explains Cryptocurrency Trading Rules

The Swiss supervisory authority issued informal recommendations to banks on the use of cryptocurrency in trading operations. For this asset, increased reserve requirements are introduced, and a limit is determined in the total portfolio.

Thus, FINMA recommends creating a reserve in the amount of 800% of the amount, and the share of cryptocurrency in the package of assets should not exceed 4%. At the moment, Switzerland is creating a regulatory framework for working with digital assets. Here they recognize their increased volatility, therefore they place very stringent requirements on credit institutions. However, FINMA is not going to prohibit or limit the circulation of cryptocurrency.

FINMA Explains Cryptocurrency Trading Rules

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