Bitfinex Weighing on Decision to Move to Switzerland

[coinpediaJordan]

Zug hosts a number of well-known crypto projects including Xapo, ShapeShift and Ethereum foundation and management. Bitfinex, which is currently located in the British Virgin Islands is considering also London as an alternative but Switzerland is top on the list.

Read more here: Bitfinex Weighing on Decision

[Xester]

Zug hosts a number of well-known crypto projects including Xapo, ShapeShift and Ethereum foundation and management. Bitfinex, which is currently located in the British Virgin Islands is considering also London as an alternative but Switzerland is top on the list.

Read more here: Bitfinex Weighing on Decision

Well I dont know the reason for their transfer but according to some sources switzerland is one of the cryptocurrency friendly country that allows the use of cryptocurrency especially bitcoin. From what I heard switzerland's government is accepting bitcoin as a mode of payment to pay taxes and other bills. This possibly is one reason aside from the cold climate. 

If you are not convinced then here is the article: https://www.coindesk.com/swiss-town-to-accept-tax-payments-in-bitcoin/

[tdtduy]

Bitfinex is planning to move its base from Hong Kong to Zug, Switzerland. The agency is in talks with Swiss authorities over the move to Europe but they are also considering London as an alternative. Bitfinex officials have held several meetings with Switzerland’s State Secretariat for International Financial Affairs (SIF) on the new development or possibility. The exchange is also in contact with Johann Schneider-Ammann, head of Switzerland’s Federal Department of Economic Affairs, Education, and Research.

Switzerland is a great country if you want to be headquartered here because of its open policy. With the long-standing experience of a reputable country in the banking and finance sector, this would be a good place to base offices related to the Cryptocurrency market. And this is also the opportunity for Bitcoin to impress the investors better. This has a positive impact on the growth of Bitcoin.

[pooya87]

as long as they are not doing this in order to run away from regulations this can be a good thing. but unfortunately sometimes exchanges are mainly running away from regulations because they want to remain shady and be able to pull some fishy stuff in the background behind the curtains without anybody monitoring them. and that is a bad thing for the community it prevents growth and everything will remain risky.