The plans of a large cryptocurrency exchange from Hong Kong are to create a headquarters in the Swiss capital of the canton of Zug, reports Cointelegraph auf Deutsch. The company's management plans to unite in one place all departments that previously worked separately: financial, legal and technical support departments.
Leading site managers and CEO of the company Jan Ludovicus van der Velde will also move to Zug. Later, Bitfinex plans to move the development department to Zug.
The choice of Switzerland as the location of the head office is not accidental - all conditions for the successful functioning of crypto business are created here, and Zug is even called the center of Swiss cryptocurrency valley.
Bitfinex management has already held a number of meetings with a number of Swiss officials to discuss all financial and legal issues in the event of the site moving. By the way, the company will be registered as a joint stock community.
The CEO of Bitfinex said that the company is also considering London as a new “place of residence.”
“However, it is much more likely that Switzerland will become the “home” for Bitfinex, since the company intends to conduct its affairs absolutely transparently in order to function in accordance with all requests of the local regulator,” said Jan Ludvikus.
This is not the first cryptocurrency exchange that has decided move your assets to another country: recently it became known about the plans of the crypto platform Binance to open its head office in Malta.
You May Also Like
Coinbase is shutting down its index fund and will develop a new retail product
The US cryptocurrency market bellwether, Coinbase, announced plans in March to open an index fund to allow accredited high-net-worth investors and institutions to trade digital currencies on the exchange.
Coinbase blocks Bitcoin Cash withdrawals, investors suffer losses
Coinbase continues to keep investor funds still locked up as it waits for "stability" on the BCH network and prices continue to spike, bankrupting traders.
