The turbulence around digital currencies continues. The fluctuations in the value of Bitcoin have created alarm, as well as the theft of assets on various platforms. In Switzerland, the recent closure of two flourishing banks put the financial authorities on alert, seeking to retain the crypto companies despite the scenario of distrust.
Market analysts worry about protecting the European country’s position as a crypto refuge. Clients who previously trusted the facilities of Switzerland currently go to Liechtenstein, Gibraltar and the Cayman Islands, which offer more accommodating scenarios.
Crypto Valley is the emporium of cryptocurrencies in Switzerland. Located in Zug, it is the niche where a considerable number of millionaires have emerged and is home to more than 200 crypto entities that include blockchain companies.
Low taxes and the existence of laws favorable to encryption are the main attractions for companies and consortiums that have migrated to the crypto universe.
Representatives of the Swiss bank maintain their distrust regarding crimes committed in this area of the economy, such as tax evasion and money laundering. However, they want to remain open to the capture of more negotiations in digital currencies.
M.Pino
Source: Infocoin
Receive this and all our information directly on your cell phone through our channel on Telegram: https://t.me/BitFinanceNews
