Major Exchange Bitfinex confers Move to Switzerland

One of the biggest cryptocurrency exchanges in the world - Bitfinex is managed ig going to move out of its current base in Hong Kong over to Switzerland
29 March 2018   1044

Handelszeitung (the German-language Swiss newsweekly) is declaring that Hong Kong-based Bitfinex is conducting negotiations with Swiss officials over a move to Europe. Switzerland is at the top of the list of potential directions and London is also being reputed as an alternative, the report added.

Bitfinex CEO Jean-Louis van der Velde is explaining the potential move. According to his report, ‘several meetings’ between Bitfinex representatives and Switzerland’s State Secretariat for International Financial Affairs (SIF) are already held. The exchange has also communicated with Johann Schneider-Ammann (the head of the Switzerland’s Federal Department of Economic Affairs, Education and Research). This year Schneider-Ammann has been previously summoned on Switzerland to set its industry-friendly adjusting climate in order to become the world`s crypto nation.

The chief of Bitnex appraised the talks with Swiss authorities as constructive and efficient:

"We are looking for a new permanent home for Bitfinex and the parent company iFinex, where we want to merge the operations previously spread over several locations."

Bitfinex alongside its parent company iFinex Switzerland could found a new AG (Aktiengesellschaft) or German for a public limited company that sees its shares traded on a public exchange. At the moment iFinex is located in the British Virgin Islands.

The significant move from Asia to Europe can reportedly see iFinex’s legal and finance departments operate from Switzerland. Bitfinex was strongly criticized for its connection to Tether (an iFinex subsidiary). Bitfinex and Tether have also got summons from the US Commodity Futures Trading Commission (CFTC), investigation which now sees Bitfinex looking to comply with all regulatory demands in Switzerland.

Jean-Louis van der Velde also added:

"We want to be the most transparent of all exchanges and meet the requirements of the Swiss regulator."

Binance announced its foray into establishing a base in the European nation of Malta which is undergoing its own effort to become the world’s ‘blockchain island’.

Bitfinex to List RSK Infrastructure Framework Token

RSK team from Argentina is developing an open source platform for smart contracts
16 January 2019   132

Bitfinex has added support for the RSK Infrastructure Framework (RIF) token.

Argentine startup RSK is developing an open source platform for smart contracts with two-way binding to bitcoin. Last fall, a startup went under the control of RIF Labs, a company focused on creating a digital infrastructure for digital identification, economic coordination and calculations called RIF OS.

The exchange's blog says that the RIF token created on the RSK platform makes it possible to use services based on the RIF OS infrastructure.

Trading in new assets is possible in Bitcoin and US dollar pairs. Margin trading is not yet available.