Bitcoin companies offering virtual wallets sometimes face a difficult legal question: do they have to operate as a bank (with all the regulation that entails), or can they function as something else? In Switzerland, at least, that matter is settled. Xapo has received “conditional approval” for running its bitcoin wallet service from the country. It’ll have to participate in a self-regulatory organization and meet other unspecified terms, but it won’t have to secure a banking license. As of now, it’s classified as a financial go-between.
TheBitcoinNews.com – Bitcoin News source since 2012
Then follow us on Google News!
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise