Switzerland

Swiss Banks Enter the Age of Bitcoin

DAVOS — Switzerland’s banking industry has long been known to privately safeguard wealth, so some bankers see bitcoin as a natural fit for the nation’s financial sector. Although such bankers may still be a minority, Zurich-based SEBA Bank AG opened in November 2019 with a universal banking license and a suite of services ranging from fiat …

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Six Major Central Banks to Collaborate on Digital Currency Research

The central banks of Canada, the United Kingdom, Japan, European Union, Sweden and Switzerland created a group with the Bank for International Settlements (BIS) to jointly research central bank digital currencies (CBDC). According to a press release published by the Bank of England on Jan. 21, the aforementioned institutions will share their experience with other …

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Switzerland Softens Tone on Libra After Ex-President Says Project ‘Failed’

The Swiss government has attempted to strike a more conciliatory tone on the Facebook-led Libra project, weeks after the country’s now-departed president called the project a failure. A government memo, seen by Bloomberg, emphasizes that the country’s regulators have not ruled out the possibility that Libra could one day receive their approval. Swiss officials will …

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Swiss-Regulated Digital Asset Bank Plans $95M Capital Raise

Seba, a young Swiss-based digital asset bank holding regulatory licensing, looks to attempt a secondary capital raise to garner over $95 million in additional funds. During the raise, Seba aims to secure 100 million Swiss francs, equivalent to $96.5 million, “from new investors, including financial institutions, family offices and individuals,” Financial News London wrote in …

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SEC’s CryptoMom Wants US to Learn From Chinese Digital Innovation

The United States could learn from China’s innovations in digital currency, says Securities and Exchange commissioner Hester Peirce.  Fielding questions via webcam at this week’s Crypto Finance Conference in Switzerland, the public sector leader known as CryptoMom, called for the U.S. to:  “Learn from what other countries are doing and take the best of what …

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PwC Switzerland Incorporates ChainSecurity Team to Expand Blockchain Audit Tools

PricewaterhouseCoopers (PwC) Switzerland has “hired” smart contract audit firm ChainSecurity’s team, folding the company and its expertise into the Big Four accounting firm, the companies announced earlier this week. In what seems like an acquisition in all but name, the seven technical engineers are joining the accounting firm and to bolster PwC Switzerland’s smart contract …

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Korean Presidential Committee Pushes to Make Cryptocurrency Mainstream

</header> <strong>A South Korean committee directly under the president has recommended several measures to the government that will make cryptocurrency mainstream. Emphasizing that “it is no longer possible to stop crypto asset trade,” the committee recommends </strong><strong>integrating crypto into the country’s financial system, allowing financial institutions to directly offer a range of crypto products, including …

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Facebook’s Libra Has Failed in Current Form, Says Swiss President

The basket of assets backing Facebook’s Libra stablecoin needs to change in order for the project to be accepted by regulators, according to Switzerland’s President. “Central banks will not accept the basket of currencies underpinning it” Reuters reported on Dec. 27 that Swiss finance minister and outgoing president Ueli Maurer said that Libra won’t be …

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New Year 2020 Crypto Shopping Guide for Filthy Rich Hodlers

A new year heralds the opportunity for a new beginning. The start of a new life cycle. As the clock strikes midnight on Jan. 1, the year 2019 will be dealt a fatal blow by old father time, a cold-hearted act of destruction that would inspire Thanos himself.  Soon, all that will remain of 2019 …

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The Country With Europe’s Highest Interest Rate Has Cut It 5 Times This Year

</header> <strong>Around half of European countries, over 20, now have 0% interest rates and a few are already in negative territory. Ukraine, which has the highest benchmark interest rate on the continent, has just reduced it again, for the fifth time this year. The race between central banks to cut rates, when there is inflation, …

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