Swiss regulators reject Bitcoin Suisse's banking license application
But Bitcoin Suisse still has "many options on the table," says the firm's CEO. Switzerland's Financial Market Supervisory Authority — the country's principal financial regulator — has denied Bitcoin Suisse's application for a banking license. According to an official announcement on March 17, Bitcoin Suisse's current application is ineligible for approval on the grounds that "various elements that are relevant under licensing law make it unlikely that a license will be granted."The regulator said that it has withdrawn Bitcoin Suisse's application for a banking license and terminated the....
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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 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....
Bitcoin exchange itBit has filed for a banking license in New York, Reuters reports. Approval for the license may come in the next couple of weeks, people familiar with the matter told Reuters. That could make itBit the first Bitcoin company to be regulated as a bank in the United States. Founded in 2012, itBit has offices in two key financial markets, New York and Singapore. The company moved its headquarters from Singapore to New York in 2014. "Bitcoin has become mainstream, the volume of bitcoin trading has grown exponentially, and the majority of bitcoin trading now takes place in the....
Swiss-based Vision Apartments has announced that it is now accepting rent in bitcoin at all its global locations, according to the apartment leader. Nowadays, it’s becoming easier to utilize the digital currency for most day-to-day expenses. And with the price of bitcoin rising steadily, it’s becoming a viable alternative to use instead of fiat currency. This can be seen through Vision Apartments announcement and the fact that they have teamed up with Swiss-based company, Bitcoin Suisse, to enable its guests to pay with the currency. Niklas Nikolajsen, CEO of Bitcoin Suisse AG, said:....
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....