Swiss Regulators Block Zurich Bitcoin ATM Launch
Bitcoin Suisse AG, a Switzerland-based digital finance broker and bitcoin ATM operator, has abruptly cancelled the planned launch of its newest, Zurich-based unit at the request of the Swiss Financial Market Supervisory Authority (FINMA). In a reddit post addressing the action, Bitcoin Suisse AG stated that in light of the government's request, it has also suspended all other planned bitcoin ATM launches and halted services for its existing ATMs. A representative from Bitcoin Suisse AG stated: "The Swiss Financial Market Supervisory Authority (FINMA) has requested Bitcoin Suisse AG to....
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The Swiss capital has taken the stance of refusing to allow bitcoin payments, going against the creativities throughout the country. According to local news outlet, Finanz Und Wirtschaft, there are no plans to implement the digital currency into the city at present. The city council of Zurich believe that bitcoin won’t prevail and have refused bitcoin payments of fees or taxes. This news, of course, goes against a similar idea that was unveiled in the Swiss city of Zug, which has proved popular within the city. In early May, Zug undertook a city council meeting and by the end of it the....
21Shares AG, a Zurich-based investment provider, is launching what is being dubbed as the world’s first Polkadot exchange-traded product, or ETP. The DOT ETP will be listed on the Swiss exchange SIX on Thursday, February 4, said the company in a statement on Tuesday. DOT is the native token of the Polkadot network. DOT has since been added to 21Shares’ Crypto Basket ETP (HODL), which tracks five major assets including bitcoin (BTC) and ethereum (ETH). Since its addition on Jan. 29, DOT now accounts for 27% of the product behind BTC at 50%. Hany Rashwan, chief executive officer....
There's no doubt about the fact that both the legal and regulatory landscape surrounding bitcoin and bitcoin ATMs are still, well, unclear. And while most regulators have allowed for the launch of bitcoin businesses anyway, the Swiss Financial Market Supervisory Authority (FINMA) is hitting the brakes on one company's plans to launch bitcoin ATMs in Switzerland. That company is Bitcoin Suisse AG, and Swiss regulators have asked them to halt their Zürich ATM plans for now, pending legal clarification. The company wrote today on Reddit: It is correct that Bitcoin Suisse AG (BTCS) have been....
Zurich’s local government has gone against initiatives elsewhere in Switzerland by refusing to allow Bitcoin payments of taxes or salaries. Zurich Residents ‘Don’t Want To Pay In Bitcoin’. While a similar scheme has proven popular in the city of Zug, an enquiry by two local politicians was met with news that “neither a strategy for Bitcoin use nor....
Zurich doesn't have any intention of promoting the use of Bitcoin and other digital currencies in the world, says the City Council. All places aren’t made equal, the same holds good for governments too, especially when it comes to Bitcoin and other digital currencies. The differences become evident while comparing two Swiss cities, Zurich and Zug in terms of digital currency adoption. Zug is a model city for Bitcoin adoption, especially after the City Hall decided on allowing people to pay fees and bills in Bitcoin. But the same can’t be said about Zurich. The authorities in Zurich are....