Bitfinex , a cryptocurrency exchange exchange based in Hong Kong, is about to relocate its activities in Switzerland. Talks with the Swiss authorities have begun on this subject.
Bitfinex is a reference, the market place however made headlines in 2016, after the disappointments of massive hacking of 120,000 bitcoins.
Today, the Bitfinex application on Android is no longer running, and has been downloaded more than 500,000 times, which increases its popularity among its users.
Bitfinex analyzes the options by favoring Zug
According to Coinmarketcap, Bitfinex ranks fifth in the ranking of cryptocurrency trades, in terms of trading volume over a 24-hour period.
Founded in 2014 by iFinex inc, the company plans to turn to London and Switzerland for offshoring. Jean-Louis van der Velde, the CEO of Bitfinex confirmed this statement by revealing :
We are looking for a permanent place of business for Bitfinex and its parent company, iFinex. We want to consolidate our operations, which have so far been scattered across multiple locations.The company's first choice is Zug, the crypto-valley of Switzerland , for now. It is trying to transfer its core businesses, including legal, financial and customer services to this new destination.
It seems that Bitfinex has already made contact with the Russian authorities. They reportedly met Johann Schneider-Ammann, the head of the Swiss Economic Department, also Secretary of State for International Finance SIF and the Federal Councilor.
Why Zug?
The city has many significant advantages for blockchain and crypto-currency companies, including a tax cut and the price of electrical energy, as well as competitive treatments.
By analyzing on the ground all legal requirements and conditions, van der Velde stated that Bitfinex "wants to be the most transparent in its exchanges and meet the requirements imposed by the Swiss regulatory framework. "
On the other hand, Zug creates a crypto-currency friendly zone. Its main concern is to exclude fraudulent companies that could undermine the prestige of the region, as a financial center.
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Posted from my blog with SteemPress : https://infos.link/bitfinex-plans-to-settle-in-switzerland/