Bitcoin exchange Bitfinex plans move to Switzerland

Bitfinex, the world's 2nd largest cryptocurrency exchange by volume according to data from coinmarketcap, and has announced plans to transfer its business location to Zug, Switzerland.

The CEO of Bitfinex is “looking for a new domicile for Bitfinex and the parent company iFinex, where [they] want to merge the operations previously spread over several locations.”

According to settlement authorities in Switzerland, Bitfinex will be integrated as a public company in Switzerland, and moved from the British Virgin Islands. The current management team intends to land in Switzerland and the technical, legal and financial departments subsequently would operate from Switzerland too.

While London could be option B for the project, van der Velde says that Switzerland is “on top of the list of jurisdictions.” He continued to express his willingness to keep all above board, saying that they “want to be the most transparent of all exchanges and meet the requirements of the Swiss regulator.”