UBS Bank Is Experimenting with ‘Smart-Bonds’ Using the Bitcoin Blockchain

During his talk at IDX Derivatives Expo in London, Alex Batlin, UBS Bank’s chief Information officer for innovation (CIOI) shed some light on what the financial institution has been working on in their innovation lab: smart-bonds on the Bitcoin blockchain. International Financing Review Asia (IFR Asia) reported that the smart-bonds were described by Batlin as […]

Swiss Tax Authorities Confirm that Bitcoin is VAT-free in Switzerland

Bitcoin Association Switzerland reports that, according to the Swiss Federal Tax Administration, no VAT applies to bitcoin in Switzerland. The transfer of bitcoin doesn’t constitute delivery of goods or services, and therefore it’s not subject to VAT. “This is the most reasonable way to classify bitcoins in the context of VAT, and we are fortunate […]

Good News: No VAT On Bitcoin In Switzerland

Bitcoin users do not have to pay value added tax (VAT) on bitcoin in Switzerland. The Swiss Tax Administration (ESTV) has announced there will be no VAT on bitcoin transactions, according to Bitcoin Association Switzerland. The news brings hope not only to bitcoin users in Switzerland, but worldwide. Switzerland has a global reputation for financial […]

Symbiont’s Blockchain Application to Transform Financial Trading

Symbiont is a company that aims to apply blockchain technology in making a quicker and safer system for transferring assets between buyers and sellers. In doing so, it could reduce the clearing and settling time for trading, paving the way for a more efficient and streamlined market. According to its statement on Tuesday, the company was […]

ShapeShift.IO Bitcoin App Launched on Apple Store

In Apple’s World Wide Developers Conference (WWDC), ShapeShift.IO CEO Erik Voorhes announced that the bitcoin app will now be available for download on the Apple’s app store. The app is available as an online exchange and API, allowing users to trade bitcoin with other assets from their iPhone. Unlike other existing apps for bitcoin payments like […]

California Moves Ahead With Burdensome Virtual Currency License

California may have a wealth of tech-savvy entrepreneurs anxious to create new businesses. But the state’s lawmakers aren’t doing them any favors as they move forward on a virtual currency license that saddles businesses with fees, paperwork and uncertainties. Businesses would have to pay a non-refundable fee of $5,000 just to apply for the license from […]

Who is the Real Satoshi Nakamoto?

Bitcoin was first introduced in a paper by “Satoshi Nakamoto” back in 2009. Since then the cryptocurrency rose to fame and inspired a lot of bitcoin-based startups to set up shop, potentially revolutionizing the financial industry. However, not much has been said about the real identity of who introduced this concept in the first place. […]

Symbiont Raises $1.25M Seed Funding from Former NYSE CEO for ‘Smart Securities’ on the Blockchain

In March, Bitcoin Magazine reported that Counterparty founders had joined with MathMoney f(x) and its founder Mark Smith as co-founders of the new fintech company Symbiont, focused on fostering the symbiotic relationship between traditional financial markets and cryptographic blockchain technology. According to the Symbiont’s website, the company is building the first issuance and trading platform […]

Bitcoin Shop, Inc. (BTCS) and Spondoolies-Tech Move Forward with Merger

In an attempt to create one of the world’s first publicly traded bitcoin transaction verification companies, Bitcoin Shop, Inc. (BTCS) and Spondoolies-Tech, Ltd. have announced that they are in the process of merging. By merging, BTCS, which recently launched its own mining farm, would gain access to the technology of one of the top hardware […]