Category Archive: 6c) Crypto Currencies English

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Switzerland and Estonia Among Europe’s Most Advanced Blockchain Ecosystems

2021-02-07

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2021-02-07

In Europe, Switzerland, Estonia, Malta and Cyprus have the most advanced and mature blockchain ecosystems with well-developed startup scenes and high levels of regulatory maturity, a paper by the EU Blockchain Observatory and Forum says.

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Switzerland’s Blockchain Fintech Industry in 2021

2021-02-02

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2021-02-02

Switzerland is home to 130 startups that are applying blockchain and distributed ledger technology (DLT) to finance use cases, new data from Swisscom show. Most of these companies (48%) operate in the banking infrastructure vertical, followed by investment management (24%), and payments (21%).

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French blockchain firms offer tracing for Swiss watches

2020-11-29

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2020-11-29

The market for second-hand luxury watches is booming. But for the average consumer, it is not easy to tell a fake from the genuine article and determine the real value of a particular timepiece. Certificates based on blockchain technology could provide more transparency.

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Dollar Consolidates Ahead of Thanksgiving Holiday

2020-11-28

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2020-11-28

Yield Curves Spreads, 2020
The divergence in developed markets yield curves continues; the dollar is consolidating ahead of the US holiday. FOMC minutes will be released; weekly jobless claims data will be released a day early; October personal income and spending will be reported; Banco de Mexico releases its quarterly inflation report.

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Blockchain trading venue challenges stock exchange dominance

2020-11-26

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2020-11-26

Digital assets bank Sygnum says it will open up new sources of funding for small companies by creating and trading shares on the blockchain. Its new trading facility will also target venture capital, real estate and the arts and collectibles market.

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Swiss law reforms make crypto respectable

2020-09-13

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2020-09-13

Bitcoin used to be something of a dirty word, associated with crime and money laundering. Switzerland has now amended its legal code to welcome cryptocurrencies and blockchain technology into the mainstream.

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How crypto mining tried, but failed, to gain a Swiss toehold

2020-05-20

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2020-05-20

There was a time when any Tom, Dick or Harry could create (or “mine”) bitcoin with a modified PC. Now only warehouses packed full of specialised computing gear stand any real chance. The bones of defunct crypto mines litter the Swiss Alps.

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Swiss consortium launches bitcoin on Tezos blockchain

2020-04-12

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2020-04-12

A consortium of Swiss cryptocurrency companies has incorporated bitcoin onto the Tezos blockchain. The move brings Tezos, which has based its foundation in Switzerland, a step closer to rival blockchain Ethereum. Launched in 2018, the Tezos blockchain was designed to play host to a new generation of decentralised finance, business and social projects.

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Swiss regulator cracks down on fraudulent crypto activities

2020-04-04

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2020-04-04

Switzerland’s financial regulator brought charges against eight “initial coin offering” (ICO) blockchain projects for breaching anti-money laundering rules last year. ICOs raise money from the public by selling digital tokens that promise to hold future value for the consumer.

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Swiss parliament assumes control of Crypto probe

2020-02-29

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2020-02-29

The Swiss parliament has insisted that it will take control of and merge the ongoing investigations into the Crypto spying affair that has rocked the Alpine nation. On Wednesday, members of the parliamentary control delegation decided to immediately take over the direction of investigation launched by the Federal Council (executive branch) on February 11.

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Crypto investigator still needs permission to view files

2020-02-24

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2020-02-24

The man tasked with investigating the Crypto spying affair for the Swiss government doesn’t have direct access to all the relevant documents. Niklaus Oberholzer, formerly a federal judge, must ask the federal authorities whenever he wants to access sensitive files.

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Ex-cabinet members had knowledge of Crypto business dealings, say papers

2020-02-17

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2020-02-17

The Crypto leaks scandal continues to shake the Swiss political establishment. The Sunday papers report that some former federal ministers and parliamentarians had ties with the Swiss firm that helped the CIA and German intelligence listen to conversations of foreign powers for decades.

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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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