Swiss Regulators Give Green Light for Bitcoin ATM Network
According to a press release, Bitcoin Suisse has now received approval from FINMA for its ATM network. UPDATE (20th June 21:18 BST): Comments from Bitcoin Suisse about it seeking regulatory approval for its ATM have been added. The Swiss financial regulator has given permission for bitcoin ATM operator SBEX to launch a network of machines in the country. The news comes in the wake of a report indicating that the authority had shut down a different operator just two weeks ago. Jumping through regulatory hoops. SBEX, which currently operates one ATM in Geneva, can now deploy further machines....
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Swiss bitcoin services company Bitcoin Suisse AG has announced that they have received membership into recognized Swiss regulatory organizations, giving them the green light to establish a network of bitcoin ATMs, in addition to operate as a licenses financial intermediary and asset manager. The company has become the youngest member of Switzerland's lead and perhaps most well-known self-regulatory organization, the VQF (Verein zur Qualitätssicherung von Finanzdienstleistungen). The company says they have been found fully compliant with existing laws and regulation in country, and as such,....
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....
‘Bitcoin Bank’ Xapo has still not completed its move to Switzerland more than 18 months after announcing the plan. CEO: Swiss is Best. The company, registered in the Cayman Islands but run out of the US, said that regulatory issues were behind the delays, with Swiss authorities unsure as to how to classify Xapo’s activities. “The regulatory environment for Bitcoin in Switzerland is very advanced, perhaps the best in the world,” CEO Wences Casares previously told local news publication Finanz Und Wirtschaft. As 2016 draws to a close, however, a sense of irony is beginning to creep in. In a....
A couple of weeks ago, Russian authorities announced that Bitcoin use was legitimate in the eyes of the law. With a population of 146 mln people, Russia is an important market for Bitcoin and other digital currencies. Cointelegraph spoke to Jake Smith of Bitcoin.com to find out if the new development calls for a celebration. Giving Bitcoin the green light. Cointelegraph: Russian authorities just endorsed the use of Bitcoin as legal. What is your reaction? Jake Smith: Over the years we've heard countless rumors about some country or another first banning Bitcoin, then clarifying that they....
US Regulators are scrutinizing the Swift payment network in light of the recent heists which have taken place. That is not a complete surprise, as there is plenty of cause for concern. Things have gotten so dire; the US regulators have warned banks about more imminent threats to their cyber security. Ever since the various Swift breaches became public knowledge, there has been a lot of concern among financial regulators. Albeit the hackers used smaller banks to gain access to the Swift network, regulators feel the interbank protocol is no longer safe. Swift Is Not Adequately Protecting Its....