Swiss Lawmakers Take Steps Toward Bitcoin Regulation
Its national railway service may have already jumped on the bitcoin bandwagon, but Switzerland is taking a slower approach as it looks to regulate digital currencies and fintech. Days after Swiss rail operator SBB made international headlines for the decision to sell bitcoin through its network of ticket kiosks, the country’s Federal Department of Finance (FDF) outlined its plans to regulate fintech with an eye to introduce legislation sometime next year. Key elements include plans for a new kind of license geared specifically toward fintech companies and a so-called regulatory “sandbox”....
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Although the draft for these new regulations has yet to be created, the government is hopeful they can shake up the Swiss banking sector. Regulation is always a double-edged blade. On the one hand, guidelines can help legalize new currencies and financial tools. At the same time, these rules can nip innovation in the bud at a very early stage. Switzerland wants to ease up on fintech regulation, which is excellent news for Bitcoin activity in the country. New rules have been proposed by the Swiss government to encourage fintech startups in the country. By easing these regulatory guidelines,....
Breitling is the latest Swiss luxury watchmaker to start accepting bitcoin, following the steps of TAG Heuer and Hublot.
Swiss railways has announced its plans to start selling Bitcoin in association with SweePay on its ticket machines. Switzerland has always been a step ahead of the world when it comes to financial matters. During the undisputed reign of fiat currency, Swiss banks made a name for themselves by valuing the privacy of its customers. While the banking industry has changed since then, the country is now increasingly focusing on Bitcoin and cryptocurrency technology. As the country continues to attract cryptocurrency businesses, it has started to take steps towards increasing digital currency....
As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently needed.
Treasury Secretary Janet Yellen Testifies Before Senate Committee
Stablecoins have become a hot topic in Washington. Following Monday’s terrausd (UST) fiasco, U.S. lawmakers are calling for....
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. […]