Bitcoin Startup Xapo Gets Nod of Approval from Swiss Finance Regulator
Bitcoin wallet company Xapo announced today that it has received an early nod of approval from a key Swiss regulator. The Switzerland-based company said in a new blog post that it has been given “conditional approval” from the Swiss Financial Market Supervisory Authority (FINMA) to do business in the European country. The approval isn’t final, however, as Xapo said the regulator wants to see it join a self-regulatory organization (SRO), among other steps. Xapo relocated to Switzerland in mid-2015, citing customer privacy concerns at the time as it looked to shift away from its operations....
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Bitcoin startup Xapo has revealed that it has gained an early ‘conditional approval’ from Switzerland’s financial regulator to operate in the country. Announced by Xapo CEO Wences Casares yesterday, the preliminary approval is reliant on several requirements, including a mandatory membership with the Self-Regulatory Organization (SRO). Xapo is confident that it will meet the requirements to become a member. Xapo chose the town of Zug (also known as Crypto Valley) in Switzerland as the location for its global headquarters. Switzerland’s international neutrality and its regulatory stability....
Xapo, the Bitcoin wallet service provider has received Swiss FINMA's conditional approval to operate from the country. Xapo is back in the news again. The leading Bitcoin wallet service at one time has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in the country. The receipt of approval was announced by Xapo’s CEO Wences Casares in his recent blog post. According to Cesares, his company has been negotiating with the Swiss authorities for over two years to be recognized as a financial intermediary. He was quoted in the blog post....
‘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....
Xapo, a prominent Bitcoin wallet platform and solutions provider successfully obtained a conditional approval from the Swiss Financial Market Supervisory Authority, hereinafter FINMA, this week. The approval of FINMA to financial service providers in Switzerland is equivalent to that of BitLicense to the New York-based Bitcoin exchange. Companies willing to engage in the Swiss financial market are required to be authorized by FINMA in order to provide financial service in the country. While there are many types of authorizations granted by FINMA, the most common set of approval is the....
Switzerland’s Financial Market Supervisory Authority (FINMA) has approved the first Swiss crypto fund. It is managed by asset manager Crypto Finance and custodied by Seba Bank. “For the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets,” said the regulator. First Crypto Fund Approved Under Swiss Laws The Swiss Financial Market Supervisory Authority (FINMA) announced Wednesday that it “has approved the first crypto fund according to Swiss law.” The regulator elaborated: For the first time, FINMA has approved a Swiss fund....