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Start a Cryptocurrency Company in Switzerland

Updated on Thursday 24th August 2017

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Start-a-Cryptocurrency-Company-in-Switzerland.jpgCryptocurrency designates a type of currency that can only be used in the digital environment. Since it is a virtual type of currency, the cryptocurrency can’t be counterfeit as easily as regular money, as it uses cryptography for security matters. Cryptography is a method through which data is transmitted to a particular entity which will have the necessary means to decode the respective information. Businessmen who want to open a company in Switzerland in this field may issue cryptocurrency without the intervention of the local government, as this field is independent from the local regulations. Our team of company formation representatives in Switzerland can offer in-depth advice on the cryptocurrency businesses operating here. 
 

Zug, the main canton for cryptocurrency companies  

 
Cryptocurrency is one of the numerous fields of activities that fintech companies (a term generally referring to the usage of technology in the financial field) may start. It is recommended to start the procedure of company registration in Switzerland for this type of business in the canton of Zug, which became the main location in the country for cryptocurrency (bitcoin currency) businesses. 
 
Moreover, the Zug canton has also emerged as the world’s leading location for this type of business.  
 
The bitcoin industry is still in its developing phase and in numerous states the procedure is not covered by the local legislation. However, Switzerland became the main European country for such activities, as the bitcoin is a legally recognized currency. Our team of company formation agents in Switzerland can offer more details on the regulations referring to cryptocurrency transactions
 

Registration requirements for a Swiss cryptocurrency company  

 
As a general rule, all companies in Switzerland performing financial activities are required to receive an authorization for their operations from the Swiss Financial Market Supervisory Authority (FINMA). However, the regulations for company formation in Switzerland in this field do not require cryptocurrency businesses to register with FINMA, as the industry is not state-regulated. 
 
Still, businessmen performing bitcoin transactions will need to comply with specific regulations provided by the Swiss Anti-Money Laundering Act, which also refers at the operations carried out on the trading platforms. In this sense, it is necessary to know that FINMA authorized in 2015 the first Bitcoin Stock Exchange
 
Businessmen are invited to contact our team of consultants in company registration in Switzerland for further information on the specific incorporation requirements available for this type of activity. 
 

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