Pro-Crypto Group Attempts To Get Bitcoin Added As A Swiss Reserve Currency
Bitcoin is a lot of different things to different people. It is a store of wealth, a transfer of value, an insurance policy against the unknown, and even a source of hope. Soon, one pro-crypto group hopes to get Bitcoin added alongside gold and the dollar as a Swiss Reserve Currency. Here’s why that would […]
Related News
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. […]
Swiss-based bank and financial services provider UBS Group AG looks to be the next to enter the fold. Reports released to start the week state that the banking behemoth is considering several different alternatives to offer digital currency investments. UBS Joins The Club The news comes not long after major US-based firms, such as Goldman […]
Bitcoin Association Switzerland reports that, according to the Swiss Federal Tax Administration, no VAT applies to bitcoin in Switzerland. The transfer of bitcoin doesn't constitute delivery of goods or services, and therefore it's not subject to VAT."This is the most reasonable way to classify bitcoins in the context of VAT, and we are fortunate that the tax administration agrees with our view," says Luzius Meisser, president of Bitcoin Association Switzerland. "Bitcoin is a currency, and thus should also be treated like a currency."In February 2014, a group of three Swiss Bitcoin....
In early December there was a mention of members in the Swiss Parliament wanting to treat bitcoin as a foreign currency. In that article, we wrote, "Forty-five members of the Swiss parliament have agreed to sign a postulate that considers bitcoin a foreign currency." Now, the Swiss Parliament is gearing up to vote on proposals that treat the digital currency as such. According to Finextra, "If approved by Parliament, the questions will be posed to the Swiss executive arm of government, the Federal Council for judgment." Approval from high office could set an example to other governments,....
Switzerland's bitcoin community has spoken out following confirmation that bitcoin is exempt from Value Added Tax (VAT) in the country. Bitcoin had always been exempt from VAT in the country, Luzius Meisser, president at Bitcoin Association Switzerland, told CoinDesk, adding that the Swiss Federal Tax Administration (FTA) had clarified the situation following a formal question submitted by his group in February last year. When asked about the implications for bitcoin business in Switzerland, Meisser said: "This has direct implications for all bitcoin companies with Swiss customers. They....