Crypto Fund AG, a Zug-based subsidiary of the Swiss Crypto Finance Group (CFG), has received a license to distribute collective investment schemes to qualified investors, Reutersreported. According to an announcement by CFG, this is the first time a crypto business is granted such permission by the authorities in Switzerland.
In recent years, Switzerland has established itself as a crypto-friendly jurisdiction. The country has its “Crypto Valley” in the canton of Zug, where Crypto Fund AG is registered. Many other crypto and blockchain businesses are either headquartered or represented there, including companies like the Chinese mining giant Bitmain. The Alpine nation has been considering the possibility to issue a state-backed cryptocurrency, although its central bank has admitted through an official that private digital currencies are better than any state-issued coin.
Businesses from the traditional financial sector have also benefited from the positive regulatory attitude of Swiss authorities. Hypothekarbank Lenzburg, a legacy financial institution, recently announced it was offering bank accounts to crypto companies, as news.Bitcoin.com reported. The bank’s management expressed desire to work with the young crypto sector, speaking of that as a “matter of credibility.” But not only the private fintech industry and financial sector are interested in cryptocurrencies and the underlying distributed ledger technology. The fully state-owned Swiss Federal Railways, for example, has been selling bitcoin to its passengers for almost two years at over 1,000 ticket vending machines.
And the city of Zug, home of the Crypto Valley, is accepting payments in bitcoin and ether for municipal services, including company registrations. Authorities there are also planning to conduct a blockchain-based vote on questions of local importance.
#qotp: rank crying, sting, vibrato, and marionette
aotp: crying > vibrato > sting > marionette
i’m so happy about stellar finally being free from their horrible company but i do miss them :(( i wish they were originally signed to a better company
credit: drighk fancam
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