Crypto-friendly Switzerland Outclasses U.S. as Facebook Libra’s Regulator

Switzerland crypto laws have appealed to blockchain enthusiasts for years. Facebook’s head of blockchain, David Marcus, is no exception. He released a statement announcing that he expects the new coin to be governed by Swiss law. “Because the (Libra) Association is headquartered in Geneva, it will be supervised by the Swiss Financial Markets Supervisory Authority …

Bitcoin Price Drops 7% Again as Crypto Market Struggles to Retain Momentum

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Throughout the past 24 hours, the price of Bitcoin (BTC) dropped from $4,065 to $3,600, reversing a short-term corrective rally. The dominant cryptocurrency has been on a steep downtrend for several …

Could Switzerland’s Crypto ETP Make a Bitcoin ETF More Likely?

Twitter Facebook LinkedIn This week, SIX Swiss Exchange, Switzerland’s principal stock exchange based in Zurich, approved the listing of a crypto exchange-traded product (ETP) with the ticker “HODL.” Like the Coinbase Index and Bitwise Hold 10, Amum ETP represents the value of five cryptocurrencies that include Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), …

Swiss Regulator Imposes 800% Risk Weighting for Bank Crypto Trading

Twitter Facebook LinkedIn The Swiss Financial Market Supervisory Authority (FINMA) has instructed banks dealing in cryptoassets to apply a risk weighting of eight times their market value  when calculating loss-absorbing capital buffers. In a confidential letter seen by swissinfo.ch, the regulator also imposed a 4 percent cap on crypto positions as a percentage of total capital …