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switzerland News and Articles



Tether Lugano partnership

Switzerland's Lugano City to Allow Crypto Tax Payments via Tether

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Lugano, a city in southern Switzerland’s Italian-speaking Ticino region is adopting tax payments with crypto. The city teamed up with the developer of USDT stablecoin, Tether Operations to manage transactions. Due to this step, citizens can pay yearly taxes and city services in Bitcoin, USDT and...

BIS France Switzerland CBDC

French and Swiss Central Banks Tried CBDC

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In terms of the program Jura, national banks of France and Switzerland, together with the BIS Innovation Hub implemented a test for wCBDC (wholesale central bank digital currency). The experiment was a part of the Banque of France series of CBDC tests, which started in March 2020. It leveraged a...

Swiss National Bank

Bank of Switzerland announced the technical readiness of CBDC

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Swiss National Bank (SNB) has completed testing of the wholesale CBDC (wCBDC). Board member Thomas Moser said in an interview that the technical launch could take place in January 2022, subject to a political decision. If approved, the regulator will use the SIX Digital Exchange (SDX)....

Switzerland crypto

Switzerland’s Fin. Regulator Approves the First Crypto Fund

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On Sept. 29, Switzerland's regulatory Financial Market Supervisory Authority allowed the first Swiss crypto fund, investing essentially in digital assets. The issuer of the product named Crypto Market Index Fund is Crypto Finance, a Zurich-based firm providing crypto services such as asset managing...

Swiss National Bank

The Swiss central bank does not plan to issue its token

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The Swiss National Bank (SNB) does not consider it necessary to launch a digital currency. The chief economist of the Central Bank, Carlos Lenz, announced there is no need for a digital franc. The current financial system of the state works fine even without a token. In parallel, Lenz criticized...

Diem

Diem withdrew the application for a license in Switzerland

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The project behind the development of the digital currency, Diem, has withdrawn an application for a license as a payment system in Switzerland. This was reported by the local Financial Market Supervision Authority (FINMA). The Swiss regulator explained the withdrawal of the application by the fact...

Julius Baer crypto

Swiss bank has record profit amid BTC storage service launch

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Julius Baer, one of the five largest banks in Switzerland, increased its adjusted net income by 34% in the first half-year. One of the drivers for improving the situation could be the offer of services for the trade and custodian storage of digital assets. In January-June, the bank's net profit...

Johann Schneider-Ammann

Former Swiss President sees the country leader in blockchain

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Former President of Switzerland and member of the Board of Directors of CV VC startup Johann Schneider-Ammann spoke about a unique approach to the laws that made Switzerland become the center of cryptocurrencies. CV VC - Crypto Valley Venture Capital is a startup that invests in cryptocurrency...

swiss startups coronavirus

Swiss crypto startups asked for financial assistance

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Representatives of the "Crypto Valley" of the Swiss Zug are negotiating with the authorities on the creation of a special fund of 100 million francs (about $102 million) to help startups affected by the crisis against the backdrop of coronavirus. It is reported by Bloomberg with reference...

Switzerland FINMA rules

New mandatory identification for senders of $1000 in crypto

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The Swiss Financial Market Supervision Authority has announced new amendments aimed at combating money laundering. Now, when carrying out cryptocurrency transactions on the exchange for an amount of more than a thousand francs (about $1,024), it will be necessary to pass identification, according...

Seba crypto bank

Swiss-based Seba digital asset bank plans $95M capital raise

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A young Swiss-regulated crypto bank Seba, which is carrying administrative licensing, plans to try a secondary funds raise to collect upper $95 million in extra reserves. Seba intends to obtain $96.5 million from new investors during the second round. After FINMA established the equipment to...

Swiss regulators say Libra needs to get a license

Swiss regulators say Libra needs to get a license

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Switzerland officials stated that for launching its cryptocurrency Facebook is going to be demanded official permission with a granting license contingent on the perils of reserve management being carried wholly by the association and not by coin holders. Finma, the Swiss economic governor,...

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