Topic: Crypto and Switzerland (Read 1116 times)
The Swiss are well done, try to keep up with the times in the financial sector!
Unlike most countries in Switzerland, everything is very good. I read an interview of one influential Swiss, and so he said that there is only one type of crypto-investors for them - regretting that they did not invest in "blockchain" in a much larger volume. This is understandable because most Swiss people - very rich people (millionaires or billionaires) and crypto currency for them - is a very good way to invest available capital in an asset that is quite worthy to take a place in the investment portfolio.
Also in Switzerland there are several leading firms and banks using bitcoins to close small transactions in countries using cryptocurrency, mainly in Asia.
In addition the Swiss southern city of Chiasso, located on the border with Italy, will accept tax payments in bitcoins.
Definitely Switzerland is one of the leaders in Crypto and this is only a small part of those areas where they uses cryptocurrency.
Also in Switzerland there are several leading firms and banks using bitcoins to close small transactions in countries using cryptocurrency, mainly in Asia.
In addition the Swiss southern city of Chiasso, located on the border with Italy, will accept tax payments in bitcoins.
Definitely Switzerland is one of the leaders in Crypto and this is only a small part of those areas where they uses cryptocurrency.
Switzerland opened up the crypto currency and want to become the crypto valley to attracting companies that launch their ICO.
Switzerland primary source of income is the banking industry and when they see that a new currency is being developed like Bitcoin of course they are going to adapt to it. Most probably they are already studying on how to incorporate crypto currency to a fiat banking system.
That must have been their line of thought as it stands to restore their safe haven status one more time. It matters to the Bitcoin community that the number of very crypto friendly countries are beginning to add up, no doubt a numbers of countries are keenly observing the development and won't be any surprise to see many countries toeing their footsteps as the popularity and adoption of Bitcoin becomes quite difficult to down play by any country. As we all know Switzerland is well known for its banking system. I watched Wolf Of Wall Street, well you know how protected Belfort was in Switzerland. I'm wondering is Switzerland opened to crypto currency. Do they allow to save your money earned and cashed out via different crypto exchange websites
Yes , Switzerland is very open to crypto currency . They actually have banks and ATMs for this purpose .
It is one of those countries which have open their minds and thoughts about bitcoin and other virtual currencies . There are many ICOs
that are basically originated from Switzerland.
The Swiss secrecy in banking system has been collapsed. In the past, you can hardly get a banking information via the Swiss bank but not anymore and even at death, the secrecy is even exposed more.
In other words, the Swiss original banking system will welcome the anonymous nature of cryptocurrency and bitcoin with two hands, that whatever exposure lies in the hand of owner and no longer in a third person.
In other words, the Swiss original banking system will welcome the anonymous nature of cryptocurrency and bitcoin with two hands, that whatever exposure lies in the hand of owner and no longer in a third person.
As we all know Switzerland is well known for its banking system. I watched Wolf Of Wall Street, well you know how protected Belfort was in Switzerland. I'm wondering is Switzerland opened to crypto currency. Do they allow to save your money earned and cashed out via different crypto exchange websites
Like other countries in Europe, Bitcoin and Crypto currencies investments are legal in Switzerland in which everyone can use it in any establishments including the banks and we see no sign of difficulties or threat for this country as they continue to embrace it. Unlike other countries that they ban the use of Cyrpto as they see only negative aspects but it is not happening specially in Switzerland but instead the economy of the country is becoming more stable and strong.Here is the link for your reference https://www.ft.com/content/c2098ef6-ff84-11e7-9650-9c0ad2d7c5b5.
I would add Malta too.
The Swiss Stock Exchange to launch its own Cryptocurrency Exchange
On Friday, SIX - company owning and operating Swiss Stock Exchange made an announcement of planning to launch a Cryptocurrency
Exchange - SIX Digital Exchange, which will be fully regulated. This shows their consistent interest in the crypto space.
The company announced that the new SIX Digital Exchange will be governed by the Swiss National bank and Swiss regulator FINMA.
Switzerland is considered to be one of the most crypto-friendly countries in the world.
The current crypto-market trend is all bearish with the most prominent cryptocurrency, Bitcoin, collapsing from a huge $20K to a mere
$6K recently and this decision of SIX rises amidst this down signs, which certainly shows their concrete belief in the cryptocurrencies. To
this, the CEO of SIX cited:
"This is the beginning of a new era for capital markets infrastructures," Jos Dijsselhof, the CEO of SIX said in a statement. "For us, it is
abundantly clear that much of what is going on in the digital space is here to stay and will define the future of our industry."
Click here to read the full article.
On Friday, SIX - company owning and operating Swiss Stock Exchange made an announcement of planning to launch a Cryptocurrency
Exchange - SIX Digital Exchange, which will be fully regulated. This shows their consistent interest in the crypto space.
The company announced that the new SIX Digital Exchange will be governed by the Swiss National bank and Swiss regulator FINMA.
Switzerland is considered to be one of the most crypto-friendly countries in the world.
The current crypto-market trend is all bearish with the most prominent cryptocurrency, Bitcoin, collapsing from a huge $20K to a mere
$6K recently and this decision of SIX rises amidst this down signs, which certainly shows their concrete belief in the cryptocurrencies. To
this, the CEO of SIX cited:
"This is the beginning of a new era for capital markets infrastructures," Jos Dijsselhof, the CEO of SIX said in a statement. "For us, it is
abundantly clear that much of what is going on in the digital space is here to stay and will define the future of our industry."
Click here to read the full article.
The Swiss municipality announced that it will accept tax payments in bitcoin. The announcement means a further impetus for Switzerland's bid to become the world leader in the bitcoin industry and the crypto currency. Switzerland seeks to create a global center for bitcoin regulation, announcing that now citizens can pay taxes through it. This announcement further strengthened Switzerland as the world leader in taking bitcoin
The Swiss are way ahead compared to US or major EU countries.
I am not Swiss, but as far I know, it is a very decentralized country where every canton decides by himself regarding taxation (correct me if I am wrong). Zug (https://cryptovalley.swiss/), Ethereum Foundation, solid AML regulations, clear stance on bitcoin's legal standing (https://www.parlament.ch/de/ratsbetrieb/suche-curia-vista/geschaeft?AffairId=20133854), Falcon Private Bank, Pro-Civis Swiss-Indian startup and plethora of other blocktech startups.
So obvious, to maintain this leading role and the marketing image, they won't discard BTC related activities. It would be a suicide.
I am not Swiss, but as far I know, it is a very decentralized country where every canton decides by himself regarding taxation (correct me if I am wrong). Zug (https://cryptovalley.swiss/), Ethereum Foundation, solid AML regulations, clear stance on bitcoin's legal standing (https://www.parlament.ch/de/ratsbetrieb/suche-curia-vista/geschaeft?AffairId=20133854), Falcon Private Bank, Pro-Civis Swiss-Indian startup and plethora of other blocktech startups.
So obvious, to maintain this leading role and the marketing image, they won't discard BTC related activities. It would be a suicide.
There's a long waiting list for ICO's to register their Foundations in Switzerland at the moment. You also need a Swiss citizen to invest some capital in your Foundation to be able to set it up. It's not as simple as it used to be in Q1, 2016.
Switzerland has changed a lot. Their banks aren't what they used to be. They've joined the AEOI club, sharing all your financial data with tax services of more than 100 countries. And my bank account which was free, now requires a 25 CHF monthly fee because of my foreign residence.
It has something do with the US forcing Switzerland to open and share data with other countries as part of a global war on terror. However, I still believed that Switzerland didn't agree with this that's why they are now accepting cryptocurrencies. Its like giving the f** you to the US of A.
Switzerland might have been a quite small country but they have always played a significant role in the world Economy. In a way that they know how to attract investors accross the globe to invest in their banks. But the times have changed now due to various global regulations swiss bank have been forced to share credentials of foreigners. Therefore they are actually making a crypto friendly country where people's wealth can be saved with the help of crypto currencies. Soon we might see number of crypto banks emerging in Switzerland.
This is my thought exactly. Switzerland has a big impact in the global economy. Such stable country although small but already among the top 10 country to live in. They will definitely lead the way of 'hiding' for crypto wealth but its not a bad thing though, every individual has the right to do so. So nothing is changed, bank secrecy and now crypto secrecy and safe haven for crypto lovers all over the world.
As we all know Switzerland is well known for its banking system. I watched Wolf Of Wall Street, well you know how protected Belfort was in Switzerland. I'm wondering is Switzerland opened to crypto currency. Do they allow to save your money earned and cashed out via different crypto exchange websites
Yes, Switzerland is crypto friendly. Read:
https://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/
https://www.reddit.com/r/Bitcoin/comments/3julou/switzerlands_bitcoin_friendly_environment_proves/
Switzerland might have been a quite small country but they have always played a significant role in the world Economy. In a way that they know how to attract investors accross the globe to invest in their banks. But the times have changed now due to various global regulations swiss bank have been forced to share credentials of foreigners. Therefore they are actually making a crypto friendly country where people's wealth can be saved with the help of crypto currencies. Soon we might see number of crypto banks emerging in Switzerland.
Swiss said goobye to banking secrecy.
Now, I think that Switzerland is looking for another way to attract people and to stand out.
Zoug want to become the "Crypto Valley" attracting companies that launch their ico, the new rich and some investors. They have jurists etc to help the companies. There is a reason why Tezos has created their foundation in Switzerland.
It is an open question whether the other countries would be very much in favour of that or will political pressure broke them down.. After all, the Americans managed to take away their banking secrecy.
Now, I think that Switzerland is looking for another way to attract people and to stand out.
Zoug want to become the "Crypto Valley" attracting companies that launch their ico, the new rich and some investors. They have jurists etc to help the companies. There is a reason why Tezos has created their foundation in Switzerland.
It is an open question whether the other countries would be very much in favour of that or will political pressure broke them down.. After all, the Americans managed to take away their banking secrecy.
Living in Geneva, I don't know any merchant or service proposing BTC as a payment method.
But you can trade on whatever crypto you want, plus your profit are not taxed (capital gains aren't taxed here).
I heard that in Switzerland there is a possibility to pay utility bills in bitcoins. Maybe not in all cities. I don't know. The fact that capital gains are not taxable is correct. When people Deposit their funds in banks they lend to the economy. It brings more benefits than the taxes that are inefficiently spent. Or keeping the money at home in the stash.But you can trade on whatever crypto you want, plus your profit are not taxed (capital gains aren't taxed here).
Indeed! I learnt today that you can buy you swiss train tickets with bitcoin.
Living in Geneva, I don't know any merchant or service proposing BTC as a payment method.
But you can trade on whatever crypto you want, plus your profit are not taxed (capital gains aren't taxed here).
I heard that in Switzerland there is a possibility to pay utility bills in bitcoins. Maybe not in all cities. I don't know. The fact that capital gains are not taxable is correct. When people Deposit their funds in banks they lend to the economy. It brings more benefits than the taxes that are inefficiently spent. Or keeping the money at home in the stash. But you can trade on whatever crypto you want, plus your profit are not taxed (capital gains aren't taxed here).
As we all know Switzerland is well known for its banking system. I watched Wolf Of Wall Street, well you know how protected Belfort was in Switzerland. I'm wondering is Switzerland opened to crypto currency. Do they allow to save your money earned and cashed out via different crypto exchange websites
Switzerland primary source of income is the banking industry and when they see that a new currency is being developed like Bitcoin of course they are going to adapt to it. Most probably they are already studying on how to incorporate crypto currency to a fiat banking system.
Wolf of Wall Street: Fantastic movie! That scene where L.D. tries to crawl into his car at the country club cracks me up just thinking about it.
But it was a movie and was also set in the 80s & 90s if I'm not mistaken, and I believe Switzerland has changed some of their famous banking privacy laws since then. They probably still have the most relaxed set of policies in the world (aside from little islands like the Caymans), but the IRS has gotten them to cooperate in prosecuting tax dodgers. And that's all if I'm interpreting what I've read and remembered in the past 10 years. That dude would never get away with stashing money offshore these days. Remember, the computer networks back then were nowhere near as developed as they are today.
Can't you buy bars of gold at Swiss banks? That's something I'd freakin' love to see in the states.
But it was a movie and was also set in the 80s & 90s if I'm not mistaken, and I believe Switzerland has changed some of their famous banking privacy laws since then. They probably still have the most relaxed set of policies in the world (aside from little islands like the Caymans), but the IRS has gotten them to cooperate in prosecuting tax dodgers. And that's all if I'm interpreting what I've read and remembered in the past 10 years. That dude would never get away with stashing money offshore these days. Remember, the computer networks back then were nowhere near as developed as they are today.
Can't you buy bars of gold at Swiss banks? That's something I'd freakin' love to see in the states.
Switzerland has changed a lot. Their banks aren't what they used to be. They've joined the AEOI club, sharing all your financial data with tax services of more than 100 countries. And my bank account which was free, now requires a 25 CHF monthly fee because of my foreign residence.
this is true-Switzerland had to cave in
now the saying "safe as a swiss bank" is no longer valid
before you could be a criminal,a terrorist or whatever but your data and your money would have never been disclosed to anyone
if you kept them in a swiss bank,it has all changed not so long ago http://money.cnn.com/2015/03/19/news/switzerland-tax-evasion/index.html
https://www.swissinfo.ch/eng/tax-evasion_swiss-say-goodbye-to-banking-secrecy-/42799134
The country is quite dynamic on crytpocurrencies.
The area around Zug is now called the crypto valley, plenty of blockchain-related start ups are settling there.
Not sure the earnings on crytpo are taxed as it was mentioned above. Earnings on stocks or fx are not taxed here except if it's your main activity. Should be the same for cryptos
The area around Zug is now called the crypto valley, plenty of blockchain-related start ups are settling there.
Not sure the earnings on crytpo are taxed as it was mentioned above. Earnings on stocks or fx are not taxed here except if it's your main activity. Should be the same for cryptos
Opportunity in cryptocurrency is what makes every nations doubtful to declare it without giving it a try.. Those who misjudged the bitcoin phenomenon as nothing but a speculative mindset of everyone is wrong because in the first place to make this work out the that think it would be,, they depend on the experts of financial /economics that has no knowledge,,or have experienced this kind of investments.. They do rely on assumptions that is not what bitcoin is..
I have a friend who lives in swiss, I can ask him if you want to ?
Well if you can I would be very grateful
As far as I know Switzerland is a very crypto-friendly country, but there are still taxation laws that will need you to pay taxes on you crypto earnings. So it is advisable there too, as for every other country, to always keep track of the trades you make in case you one day will need them for the authorities.
I have a friend who lives in swiss, I can ask him if you want to ?
Living in Geneva, I don't know any merchant or service proposing BTC as a payment method.
But you can trade on whatever crypto you want, plus your profit are not taxed (capital gains aren't taxed here).
But you can trade on whatever crypto you want, plus your profit are not taxed (capital gains aren't taxed here).
New Bitcoin derivatives / futures by Vontobel and Leonteq Securities:
https://cointelegraph.com/news/vontobel-and-leonteq-securities-launch-bitcoin-futures
Vontobel has offered a few Bitcoin related certificates for a few weeks already. However, you should really look into
the tax situation in your country before purchasing a product like this. If I buy a Vontobel certificate in my country I have to
pay capital gains tax on any profits. If I instead buy BTC directly at the exchange of my choice any profits are completely tax-free after
a speculative period of one year. Therefore it doesn´t really make sense for me to buy one of these derivative contracts.
Nonetheless, these are big news for institutional investors that want to track the BTC price, but don´t want the hassle
and the security risk of storing their coins themselves.
https://cointelegraph.com/news/vontobel-and-leonteq-securities-launch-bitcoin-futures
Quote
Switzerland-based companies Vontobel and Leonteq Securities AG are launching separate futures products that will allow customers to bet against the price of the leading cryptocurrency Bitcoin.
Vontobel has offered a few Bitcoin related certificates for a few weeks already. However, you should really look into
the tax situation in your country before purchasing a product like this. If I buy a Vontobel certificate in my country I have to
pay capital gains tax on any profits. If I instead buy BTC directly at the exchange of my choice any profits are completely tax-free after
a speculative period of one year. Therefore it doesn´t really make sense for me to buy one of these derivative contracts.
Nonetheless, these are big news for institutional investors that want to track the BTC price, but don´t want the hassle
and the security risk of storing their coins themselves.
Switzerland has always been a safe haven for all who kept in Swiss banks their capital. After Switzerland stopped to keep the banking secrecy and for any requirement to provide information about the assets of people suspected of any crime, she lost confidence. Possible with the help of bitcoin Switzerland is trying to regain the status of a country for the safe storage of capital.
Having the same thoughts that Switzerland will banned cryptocurrency because of its best well known for being one of the leading banking capital in the world. That’s why I’ve asked for any information to it, as Op have done. Sometimes it is shocking how the government response to what is new technology and sometimes expectations are not accurate. Every country makes different approach toward bitcoin because of self interest, that Swiss shows that has none or might also be playing along as off shore accounts has getting controversial this past years.
Maybe because they are one of the best baking countries in the world they want to be pioneer in this crypto banking, you never know what might happen
Having the same thoughts that Switzerland will banned cryptocurrency because of its best well known for being one of the leading banking capital in the world. That’s why I’ve asked for any information to it, as Op have done. Sometimes it is shocking how the government response to what is new technology and sometimes expectations are not accurate. Every country makes different approach toward bitcoin because of self interest, that Swiss shows that has none or might also be playing along as off shore accounts has getting controversial this past years.
Switzerland has changed a lot. Their banks aren't what they used to be. They've joined the AEOI club, sharing all your financial data with tax services of more than 100 countries. And my bank account which was free, now requires a 25 CHF monthly fee because of my foreign residence.
Well this is very good news 
As we all know Switzerland is well known for its banking system. I watched Wolf Of Wall Street, well you know how protected Belfort was in Switzerland. I'm wondering is Switzerland opened to crypto currency. Do they allow to save your money earned and cashed out via different crypto exchange websites
As far as I know Switzerland is already bitcoin friendly. They even have a bitcoin bank approved,
https://www.cnbc.com/2017/07/12/switzerlands-legendary-banking-system-gave-bitcoin-vote-of-confidence.html
And they even allowed there residence to pay taxes in bitcoin,
https://news.bitcoin.com/chiasso-switzerland-to-allow-citizens-to-pay-taxes-in-bitcoin/
So to answer your question, Yes, Switzerland is very much open to crypto currency specially bitcoin.
As we all know Switzerland is well known for its banking system. I watched Wolf Of Wall Street, well you know how protected Belfort was in Switzerland. I'm wondering is Switzerland opened to crypto currency. Do they allow to save your money earned and cashed out via different crypto exchange websites
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