Category Archive: 6c) Crypto Currencies English

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Investigation opened into Swiss encryption firm linked to CIA

2020-02-13

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2020-02-13

The Swiss government has opened an investigation into a decades-old spying affair involving Swiss firm Crypto, following reports by Swiss public broadcaster SRF, German broadcaster ZDF and The Washington Post. The government confirmed on Tuesday that it had opened an investigation into the reports that Crypto, a Zug-based communications encryption firm, was secretly used by the CIA and West German intelligence services for decades.

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Central banks weigh up response to Libra and bitcoin

2020-02-10

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2020-02-10

Central banks are contemplating a response to alternative money systems, such as bitcoin or Libra, with new digital versions of their own currencies. They go by the name of Central Bank Digital Currencies, or CBDCs. Libra’s stablecoin project launched in Geneva last year was a “watershed” moment that “kicked everyone in the pants”, Michael Sung, a professor at Fudan University, told the recent Crypto Finance Conferenceexternal link (CfC) in St...

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Swiss ski resort accepts bitcoin for settling tax bills

2020-01-30

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2020-01-30

The iconic ski resort of Zermatt has become the second local authority in Switzerland to allow residents to pay their tax bills using the cryptocurrency bitcoin. Zermatt, which lies in the shadow of the Matterhorn mountain, said on Tuesday that it will allow people living there to pay the whole range of taxes in bitcoin with no limit on the amount they contribute in the cryptocurrency.

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The spirit of Fintech past and the spectre of Fintech future

2020-01-02

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2020-01-02

It was a busy 2019 for Swiss fintech and there is promise for more to come in 2020. Here’s a round-up of fintech past and my observations of how things may shape up in the coming months. The year 2019 started with the arrival of a new breed of Fintech banking license, designed to allow small financial players to accept up to CHF100 million in deposits, but with restrictions.

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Retail digital franc remains taboo for Switzerland

2019-12-14

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2019-12-14

Switzerland has ruled out the possibility of a central bank-issued digital franc for the general public in the foreseeable future. The government has backed up the Swiss National Bank’s (SNB) fears that this would lead to financial instability. Responding to a parliamentary question, the Federal Council on Friday said an ongoing project to produce a digital franc that is restricted for use by financial players was a more sensible option than a...

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Blockchain shares – who needs lawmakers?

2019-12-08

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2019-12-08

The Swiss parliament will soon get to grips with merging the current financial system with new blockchain architecture. This is a bit like refitting your whole house to make sure the swanky new furniture and fittings blend in. Switzerland has deliberately chosen to not to tear the whole house down and build it again in a new style.

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Swiss crypto sector welcomes proposed blockchain law

2019-11-30

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2019-11-30

Proposed updates to the banking, corporate and financial infrastructure laws to accommodate Distributed Ledger Technology (DLT) have been broadly welcomed by Switzerland’s growing blockchain industry. Parliament is now set to debate the wide-ranging set of proposals presented by the governmentexternal link on Wednesday.

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Blockchain: your questions answered

2019-11-28

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2019-11-28

Blockchain: the very name fascinates and bamboozles in equal measure. Although businesses based around the technology are popping up all over Switzerland, many still wonder what exactly it does and how it can improve their lives. The potential possibilities are myriad, yet many still appear tantalisingly out of reach.

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Bitmain-backed crypto firm Matrixport opens Zurich office

2019-11-27

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2019-11-27

Singapore-based crypto financial services company Matrixport is setting up a European operations centre in Switzerland. Matrixport has close links to the Chinese cryptocurrency mining giant Bitmain, which is simultaneously winding down its Swiss presence.

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Swiss company shares traded as digital tokens

2019-11-20

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2019-11-20

A Swiss-German consortium has successful traded company shares on a blockchain-style digital platform using a Swiss franc-backed stablecoin to instantly settle the transaction. The trade marked a significant step towards creating a new breed of stock exchange.

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Swiss crypto bank SEBA outlines ambitions

2019-11-13

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2019-11-13

Crypto bank SEBA is confident of attracting a “three-digit” number of Swiss clients by the end of the year before setting its sights on global expansion and raising more than CHF100 million ($101 million) in extra funding from the public.

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Swiss payments system aims to link bitcoin and retailers

2019-11-09

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2019-11-09

Prominent European payment infrastructure provider Worldline has teamed up with financial services firm Bitcoin Suisse to allow cryptocurrency enthusiasts to spend their bitcoin in Swiss shops. Worldline last year took over SIX Payment Services, the former arm of the Swiss stock exchange group that provides payment card terminals in 85,000 Swiss retail outlets.

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Is blockchain real estate in need of renovation?

2019-11-08

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2019-11-08

Our regular analysis of developments in the world of fintech and Crypto Nation. Property has for some time been hailed as prime real estate for blockchain disruption. The incorruptible ledger will replace mountains of paperwork while interested parties will have a sovereign claim to validate transactions in property sales.

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What does blockchain have to do with me?

2019-11-08

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2019-11-08

Blockchain and cryptocurrencies seem to be all over the news, but is this a flash-in-the-pan gimmick or a real digital service that can impact on the lives of ordinary people?

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‘Next generation’ private bank plans to open doors in Switzerland

2019-10-29

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2019-10-29

A new private banking venture has joined the growing list of companies applying for licenses from the Swiss financial regulator. Tallyon aims to become a “next generation” private bank, riding the way of “radical change” in the industry.

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Bitcoin billionaire twins to address St Moritz crypto event

2019-10-24

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2019-10-24

Cameron and Tyler Winkelvoss, who made a fortune out of bitcoin, are to deliver a keynote speech at next year’s Crypto Finance Conference in St Moritz. The annual gathering of cryptocurrency entrepreneurs and investors has become a fixture event, running just before the World Economic Forum’s flagship Davos summit.

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Libra cryptocurrency soldiers on despite key departures

2019-10-17

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2019-10-17

Facebook’s cryptocurrency payments project, Libra, has suffered a major blow with the withdrawal of seven key partners. But the Geneva-based Libra Association continues to battle on against a regulatory onslaught by adopting a charter and forming an executive team.

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Blockchain for Good faces familiar blockages

2019-10-04

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2019-10-04

Our regular analysis of developments in the world of fintech and Crypto Nation. All eyes were on Libra at the Blockchain 4 Impact summit in Geneva last week. But the Facebook stablecoin project was only one part of a two-day event asking the question: Can blockchain help meet Sustainable Development Goals?

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Another Swiss bank delves into cryptoassets

2019-09-19

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2019-09-19

Arab Bank Switzerland has teamed up with blockchain technology firm Taurus to offer its wealthy clients access to bitcoin and ethereum. The bank joins a growing list of established players joining forces with fintech firms to tap into cryptoassets.

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Cryptos/Switzerland: Mountain Pass

2019-08-28

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2019-08-28

Facebook takes on global finance. But its proposed digital currency Libra frightens central banks and regulators. Below the radar, Switzerland launches its own skirmish. Two local crypto-finance pioneers this week became the first to win banking licences.

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