ChainCatcher news, Swiss digital asset company Taurus will expand into Turkey.Taurus stated that the establishment of the new office is due to the new digital asset regulatory framework. This expansion is also expected to build on the foundation of its Dubai operations and create a strategic corridor connecting the European, Middle Eastern, and Asian markets. It has already established relationships in the Turkish market, including a partnership with Turkey's first new bank, Misyon Bank, to provide asset custody and tokenization services.Taurus Managing Director Bashir Kazour stated that they already have three banking clients in Turkey, and now they will be able to better serve their expanding client base.

ChainCatcher news, according to Decrypt, the Bernese Cantonal Parliament in Switzerland passed a proposal with 85 votes in favor and 46 against, which will explore the use of Bitcoin mining to absorb surplus electricity and stabilize the grid. The proposal was introduced by a bipartisan Bitcoin parliamentary group on March 14, 2024, and was approved despite government opposition. The proposal requires the government to submit reports on three key aspects: identifying unused energy areas in Bern, assessing the feasibility of collaborating with Swiss mining companies for Bitcoin mining, and analyzing its potential to stabilize the grid during fluctuations in power supply.

ChainCatcher news, the Bernese Cantonal Parliament in Switzerland has passed a proposal to study Bitcoin mining as a method to utilize excess energy and stabilize the power grid.The parliament will conduct a feasibility study to assess energy availability, environmental impact, and regulatory issues. Supporters state that Bitcoin mining can attract investment, create jobs, and promote the development of renewable energy.

ChainCatcher news, according to CoinDesk, a development company led by early Bitcoin developer Adam Back, Blockstream, has opened a new R&D center in Lugano, Switzerland, aimed at promoting fintech innovation on the Bitcoin Liquid and Lightning networks.According to the Blockstream team, the center will provide resources, guidance, and project funding through collaboration with local startups and partners to accelerate Layer 2 technology innovation.

ChainCatcher news, the city of Lugano, Switzerland has issued digital bonds worth 120 million Swiss francs (139 million USD), marking the third bond issued by the city. The city currently issues bonds exclusively through the SIX Digital Exchange (SDX). Due to strong demand, the issuance price of this 9-year 1% coupon bond is above its face value.The digital bonds will be settled using wholesale CBDC. This is the first bond issuance since the Swiss central bank announced the extension of the wCBDC pilot two years ago in June. The joint lead managers for this issuance are Basler Kantonalbank, Raiffeisen, J. Safra Sarasin, and Zürcher Kantonalbank.

ChainCatcher news, according to SolanaFloor, Solana gift cards have been launched in retail stores across Switzerland. After users purchase and activate them, the tokens will be stored offline in the Cryptonow wallet.

ChainCatcher news, according to Social Capital Markets, the ranking of the top countries and regions for cryptocurrency business in 2024 has been released. The top ten are: Dubai, Switzerland, South Korea, Singapore, the United States, Estonia, Italy, Russia, Germany, and Brazil.It is reported that Dubai scored highest in regulatory clarity, no capital gains tax, favorable corporate tax (9%), and affordable licensing fees, making it the number one cryptocurrency destination.

ChainCatcher news, according to Cointelegraph, Bitcoin holder and billionaire investor Christian Angermayer has left the UK for the Swiss cryptocurrency hub of Lugano due to the UK's plan to tax offshore wealth for high-net-worth residents.Reportedly, Christian stated in a declaration that he moved from London to Lugano this month. In Lugano, individuals and businesses can settle bills using Bitcoin or USDT. However, if residing in the UK, one would face an annual tax cost of £60,000 (approximately $80,000).

ChainCatcher news, according to the official announcement, the Spanish banking giant BBVA's Swiss branch has announced that its institutional and private banking clients, as well as clients with NewGen accounts, can now manage their USDC funds on the same platform where they handle traditional investments.They can exchange, custody, or automatically convert USDC to euros, dollars, or any fiat currency in almost real-time.

ChainCatcher news, according to Forbes, Telegram CEO Pavel Durov is under investigation in Switzerland due to a criminal complaint filed by his former partner Irina Bolgar, alleging child abuse. These allegations surfaced after Durov's recent arrest in France and are part of a broader legal dispute, including claims of unpaid child support and a fierce custody battle. The Geneva Public Prosecutor's Office initially refused to accept the criminal complaint against Durov because the complaint was submitted more than three months after the most recent alleged incident of physical violence.In May 2023, Bolgar appealed, and the court allowed the case to proceed last October. According to officials from the Geneva court, the case is still ongoing, with Bolgar accusing Durov of injuring their youngest son (born in September 2017) five times between 2021 and 2022. These incidents allegedly caused injuries to the child, including concussions and sleep disorders. Records from November 2021 and medical evidence from April 2023 were submitted as proof that the child continues to suffer from anxiety and sleep issues due to the violent behavior.Durov's representatives declined to comment. Bolgar's lawyer confirmed that Bolgar and her three children are involved in a civil case but refused to comment on the criminal complaint. Due to Swiss law, Durov, Bolgar, and their children have not been publicly named in the criminal case, but there are several details confirming Durov's identity in the case, including the birth year of his child and the case number of the civil child support case.

ChainCatcher news, Switzerland is considering incorporating cryptocurrency tax data into its international information exchange agreements.The Federal Council launched a consultation procedure for a new bill on Wednesday. The bill aims to facilitate the sharing of cryptocurrency asset information with 111 jurisdictions. These jurisdictions are currently part of the automatic information exchange. Sharing depends on whether they comply with the OECD's cryptocurrency asset reporting framework.Switzerland has long been at the forefront of cryptocurrency adoption. Places like Lugano have been pioneers in accepting cryptocurrencies such as Tether (USDT) and Bitcoin (BTC) for tax purposes. The country's political framework allows the Federal Tax Administration to classify Bitcoin as a means of payment. Therefore, Bitcoin is exempt from Value Added Tax (VAT).The Federal Council's goal is to determine the start date for the automatic exchange of cryptocurrency-related information with its partner states. The consultation period for the proposed legislation will end on November 15, 2024.

ChainCatcher news, according to Cointelegraph, Bitcoin journalist Joe Hall recently visited Lugano, Switzerland, to verify its reputation as the world's most crypto-friendly city. Lugano is known for its progressive acceptance of digital currencies and its leading position in Bitcoin transactions.Hall explored the city's Bitcoin school and interviewed Blockstream CEO Adam Back and Tether CEO Paolo Ardoino to understand the future of Bitcoin and Lugano's role in crypto innovation. He also tested the feasibility of using only Bitcoin for daily expenses in Lugano, including dining and shopping, and found that Lugano not only supports Bitcoin payments but actively encourages this payment method, demonstrating that a Bitcoin-based lifestyle is entirely feasible here.

ChainCatcher news, the cross-chain interoperability network Axelar (AXL) Foundation will collaborate with blockchain analytics company Metrika to host a panel discussion at the Zero Point Forum in Zurich from July 1 to July 3. The discussion will focus on insights derived from specific papers and challenges related to asset tokenization, while hosting representatives from Citibank, Deutsche Bank, and Mastercard.

ChainCatcher news, the Swiss online bank FlowBank, which provides cryptocurrency services, has now been shut down by the Swiss financial regulator and has filed for bankruptcy.The Swiss Financial Market Supervisory Authority (FINMA) stated that the bank no longer has sufficient capital to maintain its banking operations and has severely violated minimum capital requirements.FINMA also stated that "there are ample reasons to be concerned that the bank is currently over-indebted" and that "there is no prospect of restructuring."

ChainCatcher news, according to Cryptoslate, Swiss Bitcoin advocate, founder and president of the nonprofit think tank 2B4CH, Yves Bennaïm, has initiated a referendum urging the Swiss National Bank (SNB) to include Bitcoin in the national asset reserves.It is reported that the initiation of this referendum depends on obtaining 100,000 valid signatures from Swiss citizens. If the required number is reached, the Swiss public will vote on the proposed amendment.

ChainCatcher news, according to Cointelegraph, Bitcoin enthusiasts in Switzerland are actively planning a referendum aimed at incorporating Bitcoin into the reserves of the Swiss National Bank. This initiative is led by the non-profit think tank 2B4CH, whose founder and president, Yves Bennaïm, stated that this move would enhance Switzerland's sovereignty and neutrality in a globally uncertain environment. Bennaïm revealed that they are currently busy completing organizational preparations and submitting the necessary documents to the national secretariat to initiate the voting process. However, challenges abound, as they need to gather support from over 100,000 Swiss citizens within the next 18 months to successfully hold the referendum.It is reported that 2B4CH attempted a similar initiative last year but failed to meet the signature threshold. With a Swiss population of approximately 8.77 million, this means they need to secure support from about 1.15% of the citizens.

ChainCatcher news, according to Cointelegraph, the city of Lugano in Switzerland allows its residents and visitors to use cryptocurrency for everyday transactions, including tax payments.Currently, over 15% of residents use the city's LVGA stablecoin daily to pay bills, shop in stores and restaurants, and access online services.

ChainCatcher news, according to Bloomberg, the institutional-grade crypto trading platform Rulematch launched by former Credit Suisse Group private banking executive (David Riegelnig) has completed a $14 million funding round, with participation from ConsenSys Mesh, Flow Traders, and FiveT Fintech. A new funding round is currently underway.It is reported that the platform primarily targets banks and securities firms and has begun trading Bitcoin and Ethereum. It is now open to clients in most EU countries, the UK, and Singapore.

ChainCatcher news, according to Cointelegraph, the city of Lugano in Switzerland has officially announced that it will start accepting Bitcoin and Tether for tax payments and all other community fees. According to the announcement, residents and businesses in Lugano will be able to use cryptocurrencies like Bitcoin to pay all local invoices, regardless of the nature of the service or the amount of the invoice.