Bitfinex moves to Switzerland
Cryptocurrency exchange Bitfinex, currently home to the Virgin Islands, intends to move its business to Zug, Switzerland. Writes about this edition Handelszeitung.
Bitfinex CEO Jean Louis van der Velde explained: “Bitfinex and its parent company iFinex need a new place to do business. There we will carry out all the operations that were previously carried out from different locations “.
According to media reports, the CEO of Bitfinex held several meetings with the State Secretariat for International Finance and with Federal Councilor Johann Schneider-Ammann, who heads the Swiss Ministry of Economy..
Experts in Switzerland familiar with the situation said that Bitfinex will be registered as a public company and will be separated from its parent company iFinex.
The management of the company also moves to Switzerland. In the future, the legal and financial departments of the exchange will settle in Zug.
Bitfinex is considering London as one of the alternatives, but Switzerland remains “in the first place in the list of jurisdictions,” the head of the exchange explained, adding that his company is ready to cooperate with regulators.
“We want to become the most transparent exchange in existence and follow the requirements of the Swiss regulator,” he said..
Bitfinex is pending official approval from the Swiss Financial Markets Authority (FINMA). FINMA issued its first license for the Payment21 cryptocurrency exchange last October.
Earlier, Binance decided to take a similar step, which announced the upcoming move to Malta..
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