Switzerland’s ‘Crypto Valley’ Has Started Accepting Bitcoin, Ether for Tax Payments
Local firm Bitcoin Suisse has partnered with the canton of Zug, converting cryptocurrency tax payments into Swiss francs.
FINMA cited money-laundering defense "weaknesses" as one reason for the license denial.
The licensed Swiss firm claims to be the first regulated bank to offer returns on its own stablecoin.
Switzerland's financial regulator has greenlighted Taurus' digital securities platform and is now expected to launch next month.
Clients will be able to trade crypto assets and use a custody service based in Switzerland.
Bordier & Cie clients will be able to buy, hold and trade digital assets such as bitcoin, ethereum, bitcoin cash and tezos.