The United Kingdom and Switzerland are set to establish a new post-Brexit agreement on financial services. The agreement, titled “Mutual Recognition Agreement for Conformity Assessments,” aims to strengthen and bring closer together the connections between the two financial centers.On Thursday, British Finance Minister Jeremy Hunt is expected to visit Bern, where he will sign the […]
Uphold, a popular cryptocurrency exchange, has announced that it will delist several cryptocurrencies, including Dogecoin, Shiba Inu, and Cardano. The move is part of a larger “delisting spree” by Uphold, which aims to comply with emerging cryptocurrency regulations in Canada. Uphold has entered into a “Pre-Registration Undertaking” with the Ontario Securities Commission to become a […]
The founders of Singapore-based cryptocurrency hedge fund Three Arrows Capital (3AC) have had over a billion dollars of their assets frozen by a court in the British Virgin Islands. The court has banned co-founders Su Zhu and Kyle Davies from transferring or selling assets worth up to $1.14 billion. This freezing order also affects assets […]
A U.S. appeals court has finalized the legal process to confiscate over 69,000 Bitcoin and other cryptocurrencies from Silk Road, a defunct dark web marketplace. The court ruling affirms the transfer of the Bitcoin to federal control, following a previous decision that recognized the government’s claim to the digital assets associated with Silk Road’s illegal […]
The CEO of UBS, Sergio Ermotti, believes that the new UBS is currently misunderstood but ultimately a positive force. He is a fan of science fiction and is in top rhetorical form as the year comes to an end.Ermotti is unwavering in his belief that the Swiss financial market needs an even larger bank in […]
The Migros Bank, a Swiss institution with a large customer base, is making efforts to attract customers and make saving more attractive. Starting from January 1, 2024, the bank will increase the interest rate on its Bonus Savings Account to 1.4 percent. Additionally, the interest rates on Youth Savings Accounts and the Free25 Personal Account […]
Zurich-based financial boutique CAT Financial Products (CATFP) is expanding its presence in Switzerland with the opening of a new office in Lugano. This move marks the third location for CATFP, following Zurich and Geneva, as part of its growth strategy in structured investment solutions.The Lugano office will be led by Laura Paganetti, who joined CATFP […]
The historic Baur en Ville hotel in Zurich has reopened its doors after undergoing extensive renovations. The hotel, which was originally opened in 1838 by Johannes Baur, has a rich history and is now under the management of the Chinese luxury hotel group Mandarin Oriental. With a total of 170 rooms, the hotel has been […]
The Federal Deposit Insurance Corporation (FDIC) of the United States has implemented a new rule that will impact the public perception of certain cryptocurrency firms. The FDIC’s board of directors has finalized regulations to address false advertising, misrepresentations of deposit insurance coverage, and misuse of the FDIC’s name or logo.Starting in 2025, institutions insured by […]
In recent years, there has been a significant shift in the global economic ecosystem as emerging powers challenge the dominance of the US dollar in international trade. China and Saudi Arabia, key players in the BRICS alliance, are leading this movement. They have signed a currency swap agreement valued at $6.93 billion, conducted entirely in […]
