Bitcoin firm gets approval to operate in Switzerland

  • Bitcoin firm gets approval to operate in Switzerland
  • While other crypto-currency firms already operate in Switzerland, Xapo’s operation as a bitcoin wallet provider had raised questions over whether it required a banking license.
  • The approval depended on several factors, including membership of a “self-regulatory organization”, Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland.
  • ZURICH (Reuters) – Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland’s financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency.
  • Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins.

By Brenna Hughes Neghaiwi ZURICH (Reuters) – Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland’s financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. “After almost
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Bitcoin firm gets approval to operate in Switzerland

  • Bitcoin firm gets approval to operate in Switzerland
  • While other crypto-currency firms already operate in Switzerland, Xapo’s operation as a bitcoin wallet provider had raised questions over whether it required a banking license.
  • Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins.
  • Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license.
  • The approval depended on several factors, including membership of a “self-regulatory organization”, Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland.

Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland’s financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. “After almost two years of substantial effort and investment
Continue reading “Bitcoin firm gets approval to operate in Switzerland”

The Global CIO Banking Daily

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The stakes have never been higher for technology in banking. Customer behaviour and the digital revolution are dictating what banking institutions need to de… by Connect Media
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Australian Independent News

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BBC: The countries where cash is on the verge of extinction. from Dimitris-T

  • BBC: The countries where cash is on the verge of extinction.
  • BBC: The countries where cash is on the verge of extinction.
  • BBC: The countries where cash is on the verge of extinction.
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BBC: The countries where cash is on the verge of extinction. http://ift.tt/2dniLMB Submitted September 29, 2016 at 10:07AM by Dimitris-T See more here: http://ift.tt/2cYv26O
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The blockchain Daily

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The blockchain Daily, by Van Santen Netwerk: updated automatically with a curated selection of articles, blog posts, videos and photos.


The blockchain Daily