Author: Editorial Office CVJ.CH

The large chamber is in favour of several legislative changes that improve the framework conditions for blockchain and distributed ledger technology (DLT). In doing so, the National Council followed a recommendation of the Federal Council last November. Aims of the legislative amendments This week the Council of States gave the green light for the creation of a new category of licence for the commercial operation of DLT infrastructure providers. The aim is to be able to prevent “snowball systems, empty promises and the sale of non-existent crypto-currencies”. The Council has also mandated legislation for the trading of rights through tamper-resistant…

Bitcoin/USD daily basis Bitcoin USD – Another week with narrow bandwidths As in the previous week, the reporting week was characterised by low daily trading margins. For most of the time, the price moved in a range between USD 9,100 and USD 9,500. A short break below the USD 9,000 mark was made on Monday. This found its daily low at USD 8,900, but the daily closing price was again at the now familiar trading zone just below USD 9,500. From Tuesday onwards, trading began in very narrow ranges in the USD 9,300 – USD 9,500 range, which lasted until…

In a 32-page document entitled “Central Bank Digital Currency”, the Federal Reserve Bank of Philadelphia examined the future of the monetary system in connection with digital central bank currencies (CBDCs). The Federal Reserve Bank of Philadelphia concludes in the paper that the introduction of digital currencies could lead to a fundamental change in the architecture of the financial system. Federal Reserve Bank of Philadelphia sees central banks as deposit monopolists The institution sees a risk that so-called “deposit monopolists” could emerge. Among other things, the study has examined the effects that may arise if consumers terminate their current accounts with…

Bitcoin Association Switzerland is a non-profit organization of enthusiasts that regularly organizes free and open events related to Bitcoin. Founded in 2013, it is Switzerland’s oldest fintech-related association. Its meetup group has more than 7500 members. Dear Financial Stability Board Thank you for the opportunity to provide our opinion on your reaction and attitude towards stablecoins. In the following letter, we will outline our main concerns concerning the regulation of stablecoins. We are afraid that focusing on the posed questions would detract from the issues at hand. We feel that the issue is the political response and intolerance towards stablecoins.…

The largest US bank, JPMorgan Chase, has shown in a recent analysis that Bitcoin will demonstrate a significant growth and maturity process in 2020. The authors of the study attested the crypto-currency a longevity as an asset class. The report of the American financial institution states that the digital currency Bitcoin was able to emerge relatively unscathed despite all the price slumps. In particular, it mentions the crisis of March 2020, when Bitcoin lost a large part of its original value within a few days. The responsible strategists at JPMorgan Chase, namely Joshua Younger and Nikolaos Panigirtzoglou, believe that this…

Founded in 2007, InCore Bank is a one-stop business-to-business transaction bank that provides transaction and outsourcing services to banks, securities dealers, asset managers and fintech companies. Rudy Suter explains exactly what this means. As a Swiss company with a banking and securities dealer license, InCore Bank offers a comprehensive and modular range of services. This includes transaction banking for traditional and digital assets, business process outsourcing (middle and back office activities), outsourcing of banking IT solutions, compliance and other services. CVJ: What does the InCore Bank actually do? Rudy Suter: Founded in 2007, InCore Bank is a one-stop business-to-business transaction…

Former Swiss President Johann Schneider-Ammann has become a member of the Board of Directors of Crypto Valley Venture Capital CV VC. One and a half years after his resignation as Minister of Economics, he is now actively involved in the Zug-based start-up, which invests in blockchain projects. Schneider-Ammann was already fascinated by new technologies during his term of office. His engagement with CV VC is his first, and to date, his only business mandate outside the Ammann Group. He joins Anna-Catherine Berner, an entrepreneur and former Finnish government minister who is also a new member of CV VC’s Board of…

The ETC Group intends to bring the first crypto-currency Exchange Traded Product (ETP) to the Xetra platform via the white label platform HANetf. The Bitcoin Exchange Traded Product (ETP) with the symbol (BTCE) is scheduled to be launched on Xetra later this month, after it has been approved by the German Financial Supervisory Authority BaFin. Physically backed with Bitcoins, BTCE participates in the price of Bitcoin and has a total expense ratio (TER) of 2%. Trading Bitcoin via an ETP structure eliminates the technical challenges associated with the crypto-currency, such as setting up a wallet or trading on unregulated exchanges.…

Grayscale Investments is experiencing increasing interest from hedge funds and other institutional investors in its crypto-currency trusts. The investment firm has bought 390 million in Bitcoin in 2020, representing 0.2 percent of market capitalization. Sharif-Askary, Managing Director at Grayscale Investments, visited the Podcast Coinscrum markets.. One of the topics discussed was the increasing volumes of Grayscale Trusts. “This was a record year – a record quarter for us. We have never seen such demand for our products before,” Sharif-Askary said in the interview. Reasons for the increasing demand According to host Nisa Amolis, Grayscale managed $3.8 billion in assets in…

Bitcoin/USD daily basis Bitcoin USD – The situation is coming to a head The reporting week was characterized by low daily trading margins. For most of the time, the share price moved in a range between USD 9,300 and USD 9,700. Only on Thursday was there higher volatility. When Bitcoin briefly crossed the USD 10,000 mark again for a short time the previous day, a correction followed which took the price to just under USD 9,000. At the end of the day and on the following days, however, the price was again above USD 9,000, with an average of around…

According to surveys conducted by Greenwich Associates and Fidelity Investments between November 2019 and the beginning of March, the trend towards digital assets is continuing. Nearly a third of the investors surveyed own digital assets. The acceptance of virtual currencies is increasing and with it the interest in the emerging asset class. This is shown by a survey conducted on behalf of Fidelity Investments. The survey questioned 774 US and European investors, including financial advisors, family offices, pension funds, crypto and traditional hedge funds, wealthy investors and foundations. The survey shows an increased investment interest in crypto currencies such as…

The second part of the conversation with Bitcoin Suisse founder and Chairman of the Board, Niklas Nikolajsen about entrepreneurship, growth, banking license, the planned IPO and the future of the crypto-financial industry. The continuation of the conversation with Niklas Nikolajsen. You can read his opinion about Bitcoin and gold as a safe haven in times of crisis, as well as the future of tokenization in the first part . CVJ.CH: Let’s get back to Bitcoin Suisse. Almost half of the total staff of Bitcoin Suisse are IT specialists. That has always been significantly higher than its competitors. What are the…

Bitcoin/USD daily basis Bitcoin USD – Another excursion over 10’000 USD Right at the beginning of the reporting week, Bitcoin broke through the USD 10’000 mark again on Monday. This brought the share price up to USD 10,500 and to a daily closing at USD 10,200. The following day, however, the sustainability of the breakthrough was already tested and a wave of selling took place, reaching a daily low of USD 9,200. The day ended with a slightly higher price of a good USD 9,500. This was followed by four trading days with smaller trading ranges, all of which took…

The digital music store eMusic has introduced its own token called eMU-Token. This is intended to enable musicians to generate higher revenues through royalties. The company’s president, Tamir Koch, explains the company’s move by saying that streaming leads to declining income for artists. According to Koch, overall revenues and acceptance have increased, but the model is by and large flawed. The performers only receive a fraction of the royalties, while the middlemen take an ever larger share of the cake. “eMU token” to create a sustainable ecosystem eMusic has now announced to counter this problem with a token. With the…

The American investment bank Goldman Sachs, headquartered in New York, named five reasons why Bitcoin is “neither an asset class” nor “a suitable investment” in a presentation this week. The financial institution had written a report during a conference call entitled “US Economic Outlook & Implications of Current Policies for Inflation, Gold, and Bitcoin”. Goldman is critical of the crypto-currency. Five main reasons for negative assessment The bank therefore considers Bitcoin to be unsuitable for investment portfolios, neither on a strategic nor on a tactical basis, and lists five main arguments: Bitcoin does not generate cash flow like bonds. Bitcoin…

Crypto-currencies are currently benefiting from steadily growing interest. With increasing investment diversity, there are more and more opportunities to invest in this area or to enter into trading with digital currencies. There are numerous ways that interested parties can invest in crypto-currencies. First and foremost, the desired exposure to the digital assets is decisive. Do you want to own the digital assets yourself, or just participate in the price trend? Whether as an interested layman or advanced investor, the path to digital currencies can seem confusing at first glance. There are now numerous vendors that offer an entry into the…