A Swiss flag is pictured on the Swiss Federal Palace (Bundeshaus) in Bern, Switzerland May 30, 2018.

SIX, the owner and operator of the Swiss stock exchange, is launching a new fully-regulated crypto exchange.
The move comes despite a slump in prices and volumes in crypto since the start of the year.
“It is abundantly clear that much of what is going on in the digital space is here to stay,” CEO Jos Dijsselhof said.

SIX, the company that owns and operates the Swiss stock exchange, on Friday announced plans to launch a fully regulated cryptocurrency exchange, showing continued institutional interest in the space despite declining prices.

The new SIX Digital Exchange will be overseen by the Swiss national bank and Swiss regulator FINMA, the company said. Switzerland has been one of the most crypto-friendly jurisdictions in Europe, with regulators offering clear guidance on how they expect crypto companies to operate.

SIX’s decision to launch a crypto exchange comes despite a collapse in the value of cryptocurrencies and declining volumes since the start of the year. Bitcoin, the largest crypto asset by market value, collapsed from around $20,000 per token at the start of the year to just over $6,600 on Thursday.

“This is the beginning of a new era for capital markets infrastructures,” Jos Dijsselhof, the CEO of SIX said …read more

Source:: Businessinsider – Technology

      

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