SDX Chief Gets Philosophical About Crypto’s Swiss-Singapore Connection

The Swiss Finance Minister recently said that as Singapore and Switzerland are not fintech competitors it is important to have a good working relationship between the two countries. Speaking to Channel NewsAsia, Swiss Finance Minister Ueli Maurer, said: It is important to have good relationships and today is a step to network between the two countries … I think it is important that small countries (which) are important financial centres have this network and understand the need to cooperate. He added: We are not competitors (and) we can cooperate together. Benefits of Working with....

There is more trouble brewing for banks active in Singapore, though. A final assessment of Standard Chartered Bank is expected to be revealed soon. The financial relationship between Switzerland and Singapore has come under even more pressure than before. Singapore central bank officials forced Falcon Private Bank to shut down immediately. This is a direct result of the ongoing money-laundering operations in the country, and Falcon Private Bank is the second Swiss financial institution forced to close its doors. The Monetary Authority of Singapore has ordered the local branch of Falcon....

A group of Swiss Bitcoin advocates led by Yves Bennaïm has initiated a referendum to amend the Swiss constitution in a way that would mandate the Swiss National Bank (SNB) to include BTC alongside gold in its currency reserves, as reported by local media. The proposed amendment to the Swiss constitution is succinct yet significant. […]

Gold is a commodity like bitcoin and other cryptocurrencies, Citi's chief economist argues in a research note published yesterday, ahead of a Swiss vote that could cause the global gold price to spike. Switzerland will hold a popular referendum on Sunday called 'Save Our Swiss Gold'. If passed, it would mandate the Swiss National Bank to hold a fifth of its assets in gold and to repatriate its holdings from England and Canada. The bank would also be banned from selling its gold in future. Gold prices have dropped as markets await the referendum. If the referendum is passed, gold prices....

Singapore’s central bank, the Monetary Authority of Singapore (MAS), is contemplating imposing stricter rules on retail crypto investors. “MAS regards cryptocurrencies as unsuitable for use as money and as highly hazardous for retail investors,” said the central bank chief. New Rules May Be Coming to Retail Crypto Investors in....