Switzerland Grants Bitcoin License to Xapo, Legal to Operate
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....
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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 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....
Switzerland is often thought of as a Bitcoin-friendly country. The Canton of Zug, for example, is sometimes called the crypto capital of the world and many Bitcoin service startups are located there, including Xapo, Shapeshift, Ethereum, Monetas, and Bitcoin Suisse. Companies wanting to do business in Switzerland need an approval by the Swiss Financial....
Xapo has officially relocated its corporate headquarters to Zurich, Switzerland, citing the country's long history of neutrality and stability. The bitcoin services and security firm said the transition was put in motion three months ago at the request of customers, and that now, Xapo's operations in Palo Alto are in the process of being reduced. As part of the transition, Xapo will hire new finance and legal staff in the central European nation while still keeping a small US presence. In interview, Xapo CEO Wences Casares sought to position the move as one that would appeal to customers....
After a legal framework revamping in 2016, Bits of Gold became the country’s first active company to secure licensing to operate as a virtual asset service.