New Swiss Organization to push Blockchain Use in Finance

A new blockchain association has been established in Switzerland in order to simplify  the use of blockchain technology in the financial market
12 June 2018   1779

The Capital Markets and Technology Association (CMTA) is based in Geneva. It was created by Switzerland’s biggest law company in conjunction with Swissquote Bank and banking software provider Temenos. As claimed in the official press release, it is to construct tools to help instituted and new businesses to integrate blockchain technology into their operations in correspondance to open national standard, which it will also set.

It is a non-profit and non-governmental organisation and will thus be able to operate  in an independent manner. It was stated at the Ecole polytechnique fédérale de Lausanne, that is a study institute and university located in Lausanne, and the dean of of the university’s School of Computer and Communication Sciences will be joining the committee.

Gland-headquartered Swissquote Bank is a banking group that promotes online financial and trading services. It has offices outside of Switzerland - in Dubai, Malta, London and Hong Kong. Geneva-based Temenos was instituted in 1993 and offers banking software to thousands of world financial institutions. It purchased British trading technology supplier Fidessa Group for $1.96 billion in February 2018. Temenos was also voted Best Islamic Banking and Finance Software Solution at the World Islamic Finance Awards in March 2018.

Lenz & Staehelin, placed in Zurich, was created by a merger of two smaller laws companies in 1991 and has around 200 lawyers on its roster. The CMTA will be headed by Jacques Iffland, partner at Lenz & Staehelin. 

The blockchain technology has the potential to reduce the complexity of the capital markets system and lower the barrier of entry for start-ups. The current lack of legal certainty is slowing - and potentially compromising - its development in this field. By defining a set of industry-supported, open standards, the CMTA aims to facilitate access to funding for businesses, ultimately contributing to value creation throughout the economy.
Jacques Iffland
Partner, Lenz & Staehelin

Crypto Valley Association placed in Switzerland is a blockchain-friendly area in the city of Zug that is home to such famous firms as Ethereum and which has adopted Bitcoin as a payment method since 2016. It is aimed to conduct test elections using blockchain technology for the first time later this month.

Bittrex to Go For Maintenance After 1/3 Funds Moved

Users suspects hack, but exchange says "funds are safe"
05 December 2019   96

The Bittrex cryptocurrency exchange has announced scheduled maintenance today, December 5, from 22:00 to 23:00 (GMT). On the eve, a third of its assets were transferred to an unknown wallet.

During maintenance, users will not be able to log into the system or use the APIs. Trading will be suspended.

On December the 4th, populat Twitter account posted that "43,564 #BTC (313,074,134 USD) transferred from Bittrex to unknown wallet." Users suspected that the exchange was hacked, but the exchange . 

Closures for scheduled maintenance only heightened suspicion. However, the Bittrex team assures that "that claim is false."