November 21, 2024 at 10:40 AM GST updated: November 21, 2024 at 10:15 AM 2 mins read News FINMA flags rising crypto money laundering risks, urging stronger oversight and risk management measures. Stablecoins increasingly misused for sanctions evasion, complicating anti-money laundering enforcement efforts. The Swiss crypto sector faces legal, reputational risks without robust compliance and…
Switzerland’s Financial Market Supervisory Authority (FINMA) has raised concerns about increasing money laundering risks in the crypto sector. The warning, detailed in FINMA’s 2024 Risk Monitor report, highlights the growing misuse of digital assets like cryptocurrencies and stablecoins for illicit activities. The report indicated that stablecoins are increasingly used in illegal transactions, such as sanctions…
Christian Angermayer, a billionaire crypto investor, has reportedly moved from London to Switzerland as the UK considers tightening tax policies on offshore wealth. Angermayer’s relocation signals the potential departure of other wealthy individuals fearing future tax hikes on non-domiciled tax arrangements. Crypto Investor Angermayer Leaves London Over Tax Concerns Billionaire crypto investor Christian Angermayer has…
September 30, 2024 at 05:28 PM GST updated: September 30, 2024 at 03:21 PM 2 mins read News Christian Angermayer’s move to Switzerland reflects a trend among the wealthy seeking better tax conditions amid UK policy changes. Lugano’s crypto-friendly environment, where residents can pay with Bitcoin, attracts investors like Angermayer fleeing tax pressures. High-net-worth individuals…
September 19, 2024 at 04:28 PM GST updated: September 19, 2024 at 03:02 PM 2 mins read News SIX Group is considering a new crypto exchange in Europe, focusing on institutional investors for both spot and derivative trading. Switzerland’s supportive crypto regulations and SIX’s strong reputation may draw significant interest from traditional finance sectors. Recent…
Swiss stock exchange SIX is exploring the launch of a new crypto trading platform in Europe, aiming to challenge dominant players like Binance, Financial Times reported on Sept. 18. Bjørn Sibbern, SIX Group’s global head of exchanges, stated that the firm was assessing a platform to support spot crypto trading and derivatives activities because the…
September 11, 2024 at 07:28 PM GST updated: September 11, 2024 at 11:44 AM 2 mins read News BBVA now offers USDC custody and trading for institutional clients in Switzerland, expanding beyond Turkey’s retail market. USDC, backed by cash assets, provides a stable alternative for investors, aligning with BBVA’s strategy for cutting-edge digital services. BBVA’s…
BBVA has integrated stablecoin USDC into its services in Switzerland, allowing institutional clients to manage USDC alongside traditional investments. This move enhances efficiency and enables faster, secure crypto trading. The USDC addition follows previous integrations of bitcoin and ether, expanding BBVA’s digital asset solutions for clients. BBVA Adds USDC to Enhance Institutional Crypto Services in…
Switzerland’s fourth-largest bank, Zürcher Kantonalbank (ZKB), has introduced trading and secure storage for major digital assets, including Bitcoin and Ethereum, according to a Sept. 4 announcement. According to the bank, its customers can now trade BTC and ETH around the clock through its existing ZKB eBanking or ZKB Mobile Banking. It added that this was…
BIS says banks face risks such as operational, security, governance, legal, and compliance issues with permissionless blockchains. Open blockchains raise privacy concerns with visible transactions, and pseudonymity offers limited protection from cyberattacks. The Bank for International Settlements (BIS) recently highlighted the complexities and risks banks face when engaging with permissionless blockchains in its latest working…
Google tightens ad guidelines to combat digital scams and protect users in Switzerland. According to an update, only compliant, licensed crypto firms can advertise under new Google rules. Google’s advertising policies have sparked significant controversy in recent years, particularly regarding promoting cryptocurrency projects and related products. These guidelines have led to legal challenges in multiple…
Switzerland has taken a step further in embracing crypto with the recent expansion of the instant payment scheme as other banks integrate XRP into their trading platforms. According to reports, 28% of banks in Switzerland allow or are planning to allow customers to invest in crypto. According to an announcement by the Swiss National Bank…