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Bitcoin Zug Switzerland

Bitcoin Suisse - Wikipedia

Bitcoin Suisse - Wikipedia

The company, established in 2013, is headed by CEO and co-founder Niklas Nikolajsen . The main service areas of the company include brokerage , asset management , trading , financial services , mining and payment gateway services . Payment solution for government body[ edit ] Bitcoin Suisse is the payment gateway service provider for the town of Zug , the first public entity globally to accept bitcoin payments for public services. [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] The company is part of the concentration of digital finance and FinTech companies in the Swiss canton of Zug, [11] [12] [13] [14] known as Crypto Valley; so named as the Zug economic policy favors innovation of future technologies. [15] [16] [17] The company operates a network of bitcoin ATMs in most major Swiss towns, [18] [19] [20] [21] performs exchange- and treasury services, and trades with and on behalf of a number of the major companies and actors in the virtual currency and asset markets. Bitcoin Suisse AG acts as an asset manager on behalf of both institutions and private individuals, with a specific focus on digital/crypto assets & currencies, as well as physical precious metals. The trading division of the company reported to be active in the global arbitrage market of digital assets, as well as in bulk OTC-trading. [22] Bitcoin Suisse AG is involved with mining the crypto currency ether through the Alpereum mine. [23] [24] Alpereum is connected to a mining pool . The company has been reported to be performing financial services on behalf of the Ethereum Foundation . [25] It has also announced its engagement in a number of other blockchain ICOs. [22] Bitcoin Suisse AG has since 2014 issued a line of physical bitcoin certificates (paper wallets designed to be directly exchangeable between thi Continue reading >>

Swiss City Of Zug Backs Blockchain Asset Trade Group

Swiss City Of Zug Backs Blockchain Asset Trade Group

Swiss City of Zug Backs Blockchain Asset Trade Group Oct 17, 2017 at 16:00 UTC|UpdatedOct 17, 2017 at 19:07 UTC The government of the Canton of Zug is supporting a newly launched trade group that aims to promote the use of blockchain technology in the asset management industry. Announced during the first annual M-0 blockchain conference in Switzerland's " Crypto Valley ," the Multichain Asset Management Association (MAMA) is comprised of 20 companies, including Melonport, ConsenSys uPort, Virtual Capital Ventures, Bitcoin Suisse and Crypto Fund AG, among others. With the support from the Canton of Zug's Department of Economic Affairs, the group's establishing membership features asset management firms, financial institutions and service providers in the blockchain industry. According to a press release, MAMA aims to achieve its goals through promoting blockchain security, defining industry standards and advancing industry-wide best practices. Mona El Isa, co-founder and CEO of Melonport, said in a statement: "We created MAMA to facilitate a forum for leaders across all industries to discuss, plan and engage with one another to drive innovation and positive change in the asset management industry as we build out this technology together in the coming years." The effort highlights blockchain's growing footprint within Switzerland, both in terms of work in the cryptocurrency space as well as applications of the tech beyond that blockchain use case. For example, Zug began accepting cryptocurrency payments for government services back in 2016 - a move followed by the municipality of Chiasso in September . The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies . CoinDesk i Continue reading >>

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Subscribe to the FT to read: Financial Times Swiss authorities tread wary path through Crypto Valley Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Choose the subscription that is right for you Not sure which package to choose? Try full access for 4 weeks For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news Purchase a Standard Digital subscription. Be informed with the essential news and opinion MyFT track the topics most important to you FT Weekend full access to the weekend content Mobile & Tablet Apps download to read on the go Gift Article share up to 10 articles a month with family, friends and colleagues All the essentials plus deeper insights and analysis In-depth analysis on trade, emerging markets, M&A, investing and more ePaper a digital replica of the newspaper Gift Article share up to 20 articles a month with family, friends and colleagues Purchase a Premium Digital + Newspaper subscription. FT Newspaper delivered daily plus unlimited digital access Continue reading >>

A Banking Centre Seeks To Reinvent Itself - Tales From The Crypto-nation

A Banking Centre Seeks To Reinvent Itself - Tales From The Crypto-nation

ON A clear day, sunset over Lake Zug is magnificent. Snow-dusted mountains cut through the orange glow above and are mirrored in the lake below. Zug is our spiritual home, says Jeremy Epstein, from Washington, DC, who has just taken 40 foreigners to tour the small Swiss town south of Zurich. They came not for sunsets, though, but to find out how Zug has become known as crypto-valleymeaning the home of many firms dealing in crypto-currencies and related activities. Switzerlands famous banking secrecy is falling to a global assault on money-laundering and tax evasion. But financial security remains in demand. The country should seek to become the crypto-nation, said the economy minister, Johann Schneider-Ammann, last month. Zug aims to be the capital of that nation. To that end, Switzerland is maintaining loose rules for crypto-businesses, even as other countries are tightening theirs. An industry is developing to store tangible crypto-assets, such as the hard drives on which cryptographic keys are stored, offline in cold, dry, secret sites complete with rapid-response teams. Where better than a decommissioned military bunker in the Swiss Alps? In Zug, friendliness to crypto-currencies is in evidence all around. Bitcoin accepted here stickers adorn the city hall and several shops, including the wine merchants. In 2016 Zug became the first place in the world to accept bitcoin for some public services. Residents can get a blockchain-based digital identity. About a quarter of last years global total of $5bn in initial coin offerings (ICOs, a form of crowdfunding whereby investors are issued with digital tokens) was raised in Switzerland, estimates PwC, a consultancy. Of the ten largest ICOs, four were in part based in Zug. The town decided early on to attract crypto-entrepr Continue reading >>

Switzerland's Chiasso Lets Residents Pay Taxes In Bitcoin | Fortune

Switzerland's Chiasso Lets Residents Pay Taxes In Bitcoin | Fortune

The Swiss municipality of Chiasso is going to let residents pay their taxes in bitcoin, its mayor has announced. The community, on Switzerlands southern border with Italy, is vying with Zug to be the countrys cryptocurrency hub. Zug, which styles itself as Crypto Valley, launched a pilot last year in which it started accepting bitcoin payments for municipal services . The pilot was apparently a success , so Zug has kept the program running. Chiassosorry, CryptoPolisis going one further by accepting bitcoin for small tax payments, up to a value of 250 Swiss francs ($261). Chiasso is recognised internationally as an epicentre of a growing technological and economic growth for both the canton and in Switzerland, Mayor Bruno Arrigoni said, according to local media . The move is apparently part of Chiassos drive to make up for contraction of the traditional financial sector after the financial crisis. Zugs scheme also caps bitcoin payments fairly low, only accepting them for a value of up to 200 Swiss francs. At the time of writing, one bitcoin is worth 4122.94 Swiss francs (and $4306.01). While there may be something for these towns to gain by enticing cryptocurrency fans to set up shop on their turf, their caution makes a lot of sense too. The value of bitcoin, along with other virtual currencies, has been particularly volatile in recent weeks, largely because of Chinas cracking down on initial coin offerings (ICOs) a trendy but risky form of fundraising that involves issuing new types of tokensand possibly banning bitcoin exchanges altogether . Continue reading >>

Chinese Bitcoin Mining Giant Bitmain Establishes Branch In Zug, Switzerland

Chinese Bitcoin Mining Giant Bitmain Establishes Branch In Zug, Switzerland

Chinese Bitcoin Mining Giant Bitmain Establishes Branch in Zug, Switzerland For centuries Switzerland was known around the world for its tradition of banking secrecy, but now a new financial industry is taking root in the country. Local leaders tried to establish a cryptocurrency hub, and their latest catch is Chinese bitcoin mining giant Bitmain, which expanded to a new location in the picturesque Swiss canton of Zug. Bitmain Technologies Ltd., the Beijing-headquartered bitcoin mining machines (ASIC chips) producer, has established a new branch in Zug, Switzerland. The Chinese company explained it chose the Zug location because Switzerland was one of the most progressive countries, with good legal stability and a skilled workforce. Bitmain says it will employ more employees in Zug in the future and will actively communicate with self-regulatory organizations (SROs) and the Financial Market Authority (Finma). Bitmain Switzerland will play a key role in our global expansion, the companys spokesperson told the German-language Swiss newspaper Handelszeitung . This is the first foothold in Europe for Bitmain which already has branches in the US, Singapore and Israel . Now is a good time to build a hub in Europe to provide better services, he proclaimed. Encouraged by the government to expand internationally, many Chinese corporations have established new businesses in markets all over the world in recent years. The Chinese bitcoin mining industry, however, might also be motivated to grow beyond their homeland by fear of a possible clampdown. There are conflicting reports aboutthe position of the Chinese government with regard to such a move against bitcoin mining, and its always wise not to keep all your eggs in one basket, just in case. Switzerland, among other countries, Continue reading >>

Swiss Authorities Indecisive On Zugs Crypto Valley

Swiss Authorities Indecisive On Zugs Crypto Valley

Cryptocurrency is slowly gaining traction in Switzerland. This is mainly due to the Zug region, which effectively allows people to spend cryptocurrency for regular purchases. Swiss regulators, on the other hand, remain on the fence about cryptocurrency. In fact, some officials are concerned this Crypto Valley label will destroy Zugs reputation in the long run. Everyone knows how Zug sets an intriguing cryptocurrency precedent in Europe. Unlike most other countries, the region effectively embraces Bitcoin payments as of right now. It can be used to pay for public transportation and other local services without too many problems. As such, the region is showing the rest of Switzerland how beneficial Bitcoin and altcoins can be. This success has not gone by unnoticed either. Zug makes a lot of media headlines, yet not everyone is a fan of this development. Even though Zug is home to nearly 200 blockchain companies, cryptocurrency remains a treacherous topic of discussion. Especially because the region is attracting so many ICO projects these days. This model of raising money is being scrutinized by regulators all over the world. Add the volatile cryptocurrency price swings on top of that, and it is not hard to see why some people remain wary. Some Swiss officials are wondering why the long-term effect of this Crypto Valley will be. The potential losses for investors are very real where cryptocurrency is concerned. Moreover, the ICO industry is prone to fraud, flops, and threats to the financial system. All of these concerns can make Zugs open-minded approach backfire in the long run. According to a local councilor, the standing of Zug will lower in the eyes of the public. His main concern is how people dont know from there to where the money is flowing. It is possible some Continue reading >>

Crypto Valley Association One Of The World's Leading Distributed Ledger And Blockchain Ecosystems

Crypto Valley Association One Of The World's Leading Distributed Ledger And Blockchain Ecosystems

Board Meeting Highlights 6 December 2017 We are interested to hear from our members who want to present their projects in 2018. The Events Working Group is currently building the pipeline for the year. The 2018...To Read More Swiss-Chalet Merlischachen To Accept Bitcoin & Ether We recently received news that restaurant and hotel guests of the Swiss-Chalet Merlischachen can pay with Bitcoin and Ether. The directors tell us it is the first hotel and restaurant Read More November 16, 2017 in Public Announcements Crypto Valley Association Welcomes KPMG as First Strategic Partner Zug, Switzerland 16 November, 2017 The Crypto Valley Association (CVA) is proud to announce that KPMG Switzerland is joining the CVA as its first Strategic Partner. A leading Read More November 4, 2017 in Member Only Announcements To access this post, you must purchase Annual Individual Membership, Annual Corporate Membership or Annual NGO Membership. Read More CVA Member Etherisc offers Ethereum-based flight delay insurance to DevCon3 As the blockchain world gears up for the third edition of the annual Ethereum developer conference in Cancun, Mexico - CVA member Etherisc is back in action as well - Read More Leading Blockchain Law Firm MME Introduces New Legal Framework to Shape the Future of Tokenized Assets Crypto Valley Association member introduces concept of Blockchain Crypto Property (BCP) to provide classification and risk-assessment of crypto assets Zug, Switzerland, October 2, 2017Crypto Valley Association(CVA), the Swiss-based not-for-profit association Read More October 23, 2017 in Member Only Announcements The Crypto Valley Association is proud to announce the inaugural Crypto Valley Conference to be held in Zug on June 20-22, 2018. More information is available on the event website:.. Continue reading >>

Why Switzerland Is Becoming A Crypto Nation With A Flourishing Ico Market: Expert Take

Why Switzerland Is Becoming A Crypto Nation With A Flourishing Ico Market: Expert Take

Why Switzerland is Becoming a Crypto Nation with a Flourishing ICO Market: Expert Take Swiss financial authority outlines a regulatory approach to ICO In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please email your ideas and CV to [email protected] . Switzerland has long been a global center for the wealth management industry, housing around $2 trillion, or 27 percent, of global offshore wealth. Since 1934, Swiss bankers and regulators have resisted the efforts of foreign tax regulators, including the Internal Revenue Service (IRS) in the US, to obtain information about secret Swiss bank accounts. They claimed compliance with Swiss law and the need to protect the privacy of their customers, as Swiss private bankers smuggled US taxpayer wealth from the US to Switzerland in all sorts of creative ways. From bundles of cash hidden inside rolls of newspaper to setting up shell companies, to jamming diamonds into toothpaste tubes, Swiss bankers aided tens of thousands of wealthy American clients to evade US taxes through secret offshore bank accounts. After giving up on their famous banking secrecy laws with a little nudging from the US Department of Justice (DOJ) and the IRS Criminal Investigations Division (IRS-CI) which shut down the oldest private bank and slapped the largest and most prominent Swiss banks with billions in fines for aiding in US tax evasion, Switzerland was on the verge of losing its competitive edge over rival financial markets. Continue reading >>

Welcome To Crypto Valley

Welcome To Crypto Valley

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The Swiss city of Zug embraces digital currency. Some worry that the money might be a little too secret. Illustration: Thomas Colligan for Bloomberg Businessweek In May a devastating computer virus called WannaCry locked up the systems of carmakers, train operators, and even hospitals. The hackers demanded users pay to get their data back with the digital currency cyber extortionists needed to swap tens of thousands of dollars worth of bitcoin in August, they turned to ShapeShift , a digital currency exchange based in the lakeside town of Zug, Switzerland. Only part of the money was laundered before the transactions were spotted and shut down. ShapeShift declined to discuss the specifics of the case, but it said in a statement that its working with law enforcement and taking steps to ensure nothing similar happens again. Still, the event highlights one of the risks both Zug and Switzerland may face as the town tries to become a hub for the burgeoning cryptocurrency industry. Digital money could help the Swiss rebound from a decade-long assault on bank secrecy, but it also brings back questions about whether the country is luring illicit cash. cracked down on cryptocurrency exchanges in September, while the U.S. Securities and Exchange Commission said in July that Continue reading >>

Zug Citizens Begin Digital Id Registration On An Ethereum Blockchain

Zug Citizens Begin Digital Id Registration On An Ethereum Blockchain

Zug Citizens Begin Digital ID Registration on an Ethereum Blockchain Join our community of 10 000 traders on Hacked.com for just $39 per month. Uport, a self-sovereign identity and user-centric data platform on the Ethereum blockchain, has made its platform available to the citizens of Zug , Switzerland. The first official Zug identification registered on the Ethereum blockchain before a live audience, Uport recently announced in a Medium blog . Uport partnered with Zug, commonly known as the Crypto Valley for hosting a number of industry startups , on the program to register residential IDs on the blockchain, enabling access to e-services such as proof of residency and online voting. Uport has been developing the platform in cooperation with ti&m, its Swiss partner. The registration marks a milestone since it demonstrates that a city government can issue a digital verification of citizenship using the Ethereum blockchain. Uports partnership with Zug supports the goal of providing a global, self-sovereign identity system. Digital citizenship allows greater trust between government agencies and citizens. It also provides opportunities for better digital interactions among governments and citizens. Zug plans to offer an e-voting initiative in the Spring of 2018. Also read: Bitcoin-friendly Swiss city announces Ethereum digital ID pilot After downloading the Uport app, a citizen of Zug registers their Uport ID on the Ethereum blockchain, creating a global identifier. This address is a smart contract address known as a Uport proxy contract. Citizens register their newly registered Uport ID to sign in to the Zug ID web portal by scanning a QR code. Once the Zug web portal is authenticated, the citizen enters a pre-existing Zug ID number along with personal information. This Continue reading >>

Swiss Officials Fear Icos Will Tarnish Reputation Of Crypto Valley Zug

Swiss Officials Fear Icos Will Tarnish Reputation Of Crypto Valley Zug

Swiss Officials Fear ICOs Will Tarnish Reputation of Crypto Valley Zug Cryptocurrency foundations, community organizations, and entrepreneurs have helped put the lightly populated Swiss canton of Zug on the business worlds map. While the local administration has created one of the most welcoming environments for the industry, some voices fear possible negative repercussions such as bad press and an American regulatory backlash. Also Read: Survey Says 8% of the American Population Now Own Cryptocurrency A new report from Zug, Switzerland by the Financial Times showcases that despite the success Crypto Valley has had in attracting businesses, there are still those that fear it might bring unwanted attention as well. A Swiss finance specialist commented: Im just waiting for Washington to call Bern and ask what are you doing down there in Zug?. Another local insider said: They say they are different to banks, that they are Robin Hoods but we have Robin Hoods driving around in Lamborghinis. Besides flashy displays of wealth, critics also echo other familiar complaints. My big worry is that the whole intransparency will lower Zugs standing worldwide, said Andreas Hrlimann, a local Green party councillor. You dont know from where to where the money is flowing, whether it is drug money for instance. He also added that the council accepting bitcoin payments was clearly a marketing gag. For their part, the entrepreneurs appear to be pleased with the regions politicians and regulations. The only issue they raised in the FT report was reluctant cooperation by the local banks, something that they can bypass by turning to other places such as Liechtenstein . The main concern that rises from the report is that some ICO could mess up in a way that will bring foreign pressure to harshe Continue reading >>

The Case For Switzerland, And Particularly Zug, As The Global Blockchain And Cryptocurrency Hub

The Case For Switzerland, And Particularly Zug, As The Global Blockchain And Cryptocurrency Hub

The Case for Switzerland, and Particularly Zug, as the Global Blockchain and Cryptocurrency Hub Why this so-called Crypto Valley holds the key to becoming the global epicentre of digital assets, and 8 steps it could take to get there. At the time of writing, Zug has the nickname of Crypto Valley. Numerous leading blockchain startups are housed there, including the Ethereum Foundation , ShapeShift and Xapo to name a few. According to the World Economic Forums Global Competitiveness Report (2017), Switzerland is ranked number 1 out of 138 countries as the most competitive and productive in the world. This data collated by numerous academics covers key indicators including great institutions, infrastructure, macroeconomic environment, education, market efficiency, financial market development, technological readiness, business sophistication and innovation. Zug is the Crypto Valley and not other places because only Zug has all and not some of the aforementioned elements required to be a cryptocurrency and blockchain hub at the time of writing. Where Zug is trying to be the full-package, alternative cities could only be the half-package at best for now. Barriers to entry exist when compared with other blockchain-friendly cities such as San Francisco, London, Tokyo, New York, Singapore and Amsterdam. The main barrier being the Swiss attitude of letting innovative things take their own course, with nominal government interference.Switzerland has a favourable regulatory environment for financial and technological startups. Despite the significance of this Crypto Valley, this title is expendable because it does not completely live up to its nickname.The CIA World Factbook states that Switzerland has zero international issues or disputes . Nevertheless, this same source also st Continue reading >>

The Future Of Money: Bitcoin And Other Cryptocurrency Technologies Are A Way Of Life In This Small Swiss Town

The Future Of Money: Bitcoin And Other Cryptocurrency Technologies Are A Way Of Life In This Small Swiss Town

The Future of Money: Bitcoin and Other Cryptocurrency Technologies Are a Way of Life in This Small Swiss Town Dubbed "Crypto Valley," Zug, the tiny Swiss town with million-dollar Alpine views 20 miles south of Zurich, has become a worldwide hub for entrepreneurs working with digital currencies like bitcoin. Michael Buholzer/Reuters Business Bitcoin Cryptocurrencies Switzerland Blockchain ATMs financial crisis In Zug, a tiny Swiss town 20 miles south of Zrich with million-dollar Alpine views, a small machine is doing big things. One of the 10 bitcoin ATMs installed across Switzerland by Zug-based Bitcoin Suisse, the machine accepts Swiss francs and euros in exchange for a slip of paper with a code that represents the equivalent amount in bitcoin. Scan the code with your smartphone, and the currency is yours. The ATM isnt really necessary. Bitcoin has no physical form. Instead, it is made up of lines of computer code conceived in 2009 by a coder working under the pseudonym Satoshi Nakamoto. For those who wish to purchase the digital currency but find the prospect of the transaction difficult to conceptualize without physical proof, the ATM provides a helpful bridge. Keep up with this story and more by subscribing now A bitcoin ATM might seem unconventional, but it makes sense in Zug. The town of 30,000 has persistently attracted entrepreneurs who specialize in digital currency, and by 2014 it became known in the financial world as Crypto Valley. One of the first to arrive was South African Johann Gevers, who came in 2012. His business, Monetas, offers a digital system through which any currency, including bitcoin, can be transferred worldwide at very low cost. Monetas was soon joined by other cryptocurrency startups, which now number around 20, including Ethereum, minter Continue reading >>

Chinese Bitcoin Mining Giant Sets Up Swiss Subsidiary

Chinese Bitcoin Mining Giant Sets Up Swiss Subsidiary

January 10, 2018 / 4:59 PM / 3 months ago Chinese bitcoin mining giant sets up Swiss subsidiary ZURICH (Reuters) - Chinese bitcoin mining giant Bitmain Technologies is expanding to Switzerland in a move that will be key to widening its reach, the group told a Swiss newspaper. A man walks past an electric board showing exchange rates of various cryptocurrencies including Bitcoin (top L) at a cryptocurrencies exchange in Seoul, South Korea December 13, 2017. REUTERS/Kim Hong-Ji Bitmain Switzerland was registered in Zug, Switzerland in late December according to commercial registry filings accessed on Wednesday. Experts say China is one of the worlds biggest sources of bitcoin mining, where miners solve complex mathematical puzzles with computers in order to be awarded virtual coins. But a government clampdown on electricity-intensive cryptocurrency mining could soon see that activity move elsewhere. Bitmain Switzerland will play a central role during our global expansion, a spokesman for the Beijing-based group told Swiss paper Handelszeitung. The paper first reported the groups expansion to Switzerland on Wednesday. Bitmain Technologies was not immediately available for comment nearing midnight Beijing time. Founded in Beijing in 2013, Bitmain is a leading bitcoin miner which also makes chips and computer hardware for mining. Besides Beijing it currently has offices in Amsterdam, Hong Kong, Tel Aviv, Qingdao, Chengdu, Shanghai and Shenzhen, according to its website. Zug, a small canton in the middle of Switzerland, has become known as the Swiss Crypto Valley due to the proliferation of cryptocurrency groups setting up shop there. The Swiss company, Bitmain Switzerland, was registered to directors Jihan Wu, the name of Bitmain Technologies co-founder, as well as a Chines Continue reading >>

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