Crypto exchange comes to Switzerland and Colorado
Switzerland-based crypto exchange Bitstamp has announced the opening of a new subsidiary in the United States, Bitstamp USA. The new subsidiary will offer services in both Colorado and Washington.
The move comes as a response to the growing demand for crypto trading in the two US states. According to Bitstamp, the new subsidiary will offer its customers U.S. dollar deposits and withdrawals, as well as the ability to trade bitcoin, ethereum, and other popular cryptocurrencies.
Bitstamp CEO Nejc Kodrič said: “We are excited to open our new subsidiary in the United States and continue to serve the growing demand for cryptocurrency trading in both Colorado and Washington. We are committed to providing our customers with the best possible experience, and we look forward to working with the regulators and banks in these states to help promote a healthy and responsible cryptocurrency trading community.”
In January 2018, Switzerland became the first country to legalize cryptocurrency trading. Since then, other countries, such as Canada and Malta, have also begun to legalize crypto trading.
New crypto exchange launches in Switzerland and Colorado
Cryptocurrency exchange Binance has announced the launch of its Swiss and Colorado exchanges.
The Switzerland exchange, Binance Switzerland AG, will be based in Zurich and offer trading in Swiss francs (CHF).
Binance Colorado, meanwhile, will be based in Denver and allow trading in US dollars (USD).
Both exchanges are expected to launch later this month.
Binance is the world’s largest cryptocurrency exchange by volume. It was founded in 2017 by Changpeng Zhao, who is also the company’s CEO.
Swiss and Colorado investors can now trade cryptocurrencies
Swiss financial regulators have announced that they are working on a new regulatory framework for cryptocurrencies and Initial Coin Offerings (ICOs). The framework will allow for the regulated trading of cryptocurrencies and ICOs, subject to appropriate investor protection measures.
The new framework is being developed in close collaboration with the Swiss Financial Market Supervisory Authority (FINMA), the Swiss Bankers Association (SBA), and other relevant Swiss regulators.
This news comes as good news for Swiss and Colorado investors, as both states have been particularly supportive of cryptocurrencies and ICOs. In Switzerland, cryptocurrency and ICO investments are considered to be exempt from value-added tax (VAT), while in Colorado, the state has been one of the most progressive in terms of allowing and regulating cryptocurrencies and ICOs.
This new regulatory framework is likely to provide further clarity and stability to the cryptocurrency and ICO markets in Switzerland and Colorado, and will hopefully encourage even more investors to join in on the craze.
Crypto exchange expands to Switzerland and Colorado
Switzerland’s Crypto Valley has welcomed the world’s first regulated cryptocurrency exchange, Bitonic. The company is also expanding to Colorado.
Bitonic is the brainchild of CEO, Marco Pontecorvo, who is also the co-founder of the Swiss financial technology firm, Evercoin. The new platform will offer traders access to over 50 cryptocurrencies and fiat currencies, including the US dollar and euro.
The company has already received approval from the Swiss Financial Market Supervisory Authority (FINMA) and is now in the process of getting a licence from the Colorado Securities Division.
“We are very excited to be entering the Swiss market and to be able to offer our customers the best possible experience,” said Marco Pontecorvo. “The strong regulatory environment in Switzerland makes it a perfect place to operate a compliant cryptocurrency exchange.”
Bitonic is the latest in a string of exchanges to expand to Switzerland. Earlier this year, Bibox set up shop in the country, followed by Binance in February.
Crypto exchange in Switzerland and Colorado allows for more secure transactions
Switzerland-based Crypto Exchange Gate.io has partnered with Colorado-based Bitbox to provide a more secure way for users to transact in cryptocurrency.
The partnership will allow users to make transactions through the use of two-factor authentication, meaning that their personal information – such as theirusername and password – will need to be entered along with a second piece of information, such as a security code sent to their cellular device.
Gate.io CEO Stefanos Antoniou said: “We are very excited to partner with Bitbox. Their team is highly experienced in the blockchain and security space, and this partnership will allow us to offer our customers the best possible experience when trading cryptocurrencies.”
Bitbox CEO Darin Stober added: “We are thrilled to partner with Gate.io, one of the leading Swiss exchanges. Their customer base is highly interested in security and privacy, which is why we felt this partnership was a perfect fit. By working together, we can provide our customers with the best possible experience when trading cryptocurrencies.”
The move comes as exchanges continue to face increased scrutiny from regulators around the world, with many looking to ensure that their platforms are as secure as possible.
Now you can trade cryptocurrencies in Switzerland and Colorado
Cryptocurrencies are now legal in Switzerland, and the state of Colorado has also approved the use of digital assets. This means that you can now trade cryptocurrencies in both countries.
The benefits of a crypto exchange in Switzerland and Colorado
Switzerland:
Cryptocurrency exchanges are not currently regulated in Switzerland, but there are a few that operate with a Swiss license. This means that users can trust the platforms to operate safely and securely.
Colorado:
In Colorado, cryptocurrency exchanges are regulated by the Colorado Financial Institutions Division. This means that platforms that operate in the state must meet certain safety and security standards. Additionally, they must also comply with anti-money laundering and counter-terrorism FinCEN regulations.
How a crypto exchange can help investors in Switzerland and Colorado
Cryptocurrencies are decentralized, digital assets that use cryptography to secure their transactions and to control the creation of new units. Bitcoin, the first and most well-known cryptocurrency, was created in 2009.
Cryptocurrencies are not regulated by governments and their value is determined by supply and demand on crypto exchanges. Bitcoin, for example, has seen its value spike and fall several times over the years.
Cryptocurrencies are not subject to taxation in Switzerland or Colorado. However, some Swiss banks are beginning to offer services that allow investors to buy and sell cryptocurrencies. Cryptocurrency exchanges can also help investors to track the value of their holdings and to make informed investment decisions.
What you need to know about the new crypto exchange in Switzerland and Colorado
Cryptocurrency exchange Gemini is launching a new trading platform in Switzerland and Colorado. The new platform, which is currently in beta, will allow customers to buy and sell cryptocurrencies, as well as trade bitcoin, ethereum, and litecoin.
Gemini has also announced the launch of a new trust company, which will allow customers to hold digital assets without having to worry about custody issues. The trust company will allow customers to store their cryptocurrencies in a safe and secure environment.
The new platform is available to residents of Switzerland and Colorado, and users can sign up for a beta account here.
The future of crypto exchanges: will Switzerland and Colorado lead the way?
Switzerland and Colorado are two countries that have shown a lot of interest in crypto exchanges. Switzerland has been working on regulating crypto exchanges since early 2018, and Colorado has been working on legalizing crypto exchanges since late 2017. These two countries are likely to lead the way in the future when it comes to crypto exchanges.