Bitfinex moves to Switzerland

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.