21 bitcoin funding agencies

Learn more about how bitcoin fits within an investment portfolio and the impact of an allocation to bitcoin. View the full presentation: The Investment Case for Bitcoin. To determine if bitcoin has value, it is important to start with an understanding of the two types of value:. If bitcoin is increasingly used as an asset with monetary value, what role might it play within an investment portfolio? Bitcoin may potentially increase portfolio diversification because of its low correlation to traditional asset classes, including broad market equity indices, bonds and gold. Source: Morningstar.

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Content:

• Bitcoin is soaring above $60,000. This entrepreneur has a way to play the boom.
• UNICEF launches Cryptocurrency Fund
• The 10 Public Companies With the Biggest Bitcoin Portfolios
• Build a custom email digest by following topics, people, and firms published on JD Supra.
• Total crypto fund inflows top $5 bln this year, up more than 600% - report
• Corporates investing in crypto
• Why Governments Are Wary of Bitcoin

WATCH RELATED VIDEO: Bitcoin: Surveying the 21 Jan Sell-off (On-chain Market Analysis)

Bitcoin is soaring above $60,000. This entrepreneur has a way to play the boom.

However, a need for selective action and improvements in certain areas of private, financial market and insolvency law was identified. Finally, during its meeting on June 18, , the Swiss Federal Council enacted the remaining provisions of the DLT-Law, which, together with the implementing ordinance, entered into force on August 1, Swiss law does not define the terms cryptocurrency or virtual currency. FINMA points out that tokens may also fall into more than one of these three basic categories.

Such hybrid tokens are, for example, asset tokens or utility tokens, which at the same time also qualify as payment tokens. Although a number of variations exist, such coins use algorithms or other automated systems to stabilise the price of the token by directly or indirectly influencing the demand and supply of the respective token.

For example, depending on the current price of the respective token, more tokens may be issued or redeemed on the market. In Switzerland, cryptocurrencies do not qualify as legal tender. In particular, the SNB has not issued any cryptocurrencies. The aim of this Innovation Hub is to gain in-depth knowledge of the relevant technological developments affecting the tasks of central banks.

In one of the research projects under this initiative, the integration of digital central bank money into a DLT infrastructure was tested. Moreover, tax authorities in the Canton of Zug started accepting Bitcoin and Ether for tax payments as of , making it the first Swiss canton in which taxes can be paid with cryptocurrencies. The concept of DLT-Securities aims to ensure the tokenisation of rights by providing the legal framework for an electronic registration of rights that entails the same protection as a traditional security.

The intended purpose of these new ledger-based securities is primarily to allow the issuance and transfer of rights directly on a DLT-based register. In order to validly create DLT-Securities, the involved parties e. The register must satisfy certain statutory technical minimum requirements. The register must, namely, exclusively grant the creditors, but not the debtor, actual power of disposal over the respective rights. Pursuant to the DLT-Law, the issuer of DLT-Securities is liable for ensuring that the register functions correctly and that the technical and organisational protective measures are adequately implemented and maintained.

The DLT-Law does not specifically define the criteria that the register and respective measures must satisfy. In view of the potential liability of the issuer, it will therefore be of great importance that adequate market standards are developed, i.

In Switzerland, cryptocurrency-related activities are not prohibited. Under Swiss law, securities Effekten are financial instruments that are: i standardised; ii suitable for mass trading; and iii either certificated securities Wertpapiere , uncertificated securities Wertrechte , derivatives or intermediated securities Bucheffekten.

Therefore, each token will have to be subject to a specific determination on a case-by-case basis in consideration of the principles outlined by FINMA.

According to FINMA, utility tokens are not treated as securities if their sole purpose is to confer digital access rights to an application or service, and if the utility tokens can already be used in this manner at the point of issue.

This view on payment and utility tokens is supported by the Dispatch. The Crypto Market Index Fund enables qualified investors to participate in this digital asset class. The objective of the Crypto Market Index 10 is to reliably measure the performance of the largest, liquid crypto-assets and tokens and to provide an investable benchmark for this asset class. Licensed DLT-Trading Venues are authorised to provide services in the areas of trading, clearing, settlement and custody of DLT-Securities to both regulated and unregulated financial market participants, including retail investors.

Pursuant to the revised Financial Market Infrastructure Ordinance, which also came into effect on August 1, , complex financial products qualifying as DLT-Securities, such as derivatives, may also be admitted to trading on a DLT-Trading Venue, as long as such products do not provide for a time value or a leverage component.

Under certain conditions, the trading of cryptocurrencies may also be permitted at a DLT-Trading Venue. The DLT trading facilities are essentially modelled on the existing traditional trading facilities and are subject to similar requirements such as stock exchanges and multilateral trading facilities.

SDX will offer its participants a fully regulated, integrated trading, settlement, and custody infrastructure based on DLT. This is the first time that a licence has been granted by FINMA to financial market infrastructures that offer trading of digital securities in the form of tokens and provide the integrated settlement services.

For the purpose of tax assessment, cryptocurrencies must be converted into Swiss francs. According to the understanding of different cantonal tax authorities, cryptocurrencies are considered to be assets, comparable with bank deposits, and are therefore subject to wealth taxes. If the FTA does not determine a year-end market value, the cryptocurrencies must be declared at the year-end price of the trading platform via which the buying and selling transactions are executed. If no current valuation rate can be determined, the cryptocurrencies must be declared at the original purchase price in Swiss francs cost of acquisition.

Because the rules for declaring cryptocurrencies can vary, the rules must first be checked in the canton of residence. In general, capital gains on assets of individuals such as cryptocurrencies are exempt from income tax. However, if cryptocurrencies are held as part of the business assets of an individual e. Legal entities are subject to annual capital tax. Therefore, legal entities have to declare cryptocurrencies in their tax assessment at cost of acquisition or, if this value is lower, converted at the year-end exchange rate provided by the FTA.

Therefore, cryptocurrencies with no market value provided by the FTA are to be declared at acquisition costs. Corporations are subject to Swiss corporate income tax on any net taxable earnings from the sale of cryptocurrencies. Non-realised gains on cryptocurrencies are only subject to Swiss corporate income tax in case of a mark-to-market accounting in the Swiss generally accepted accounting principles accounts of the corporate investor. Under Swiss law, both issuing cryptocurrencies as well as the subsequent trading of such tokens may be subject to anti-money laundering regulations.

There are two main groups of financial intermediaries. The AMLA and implementing regulations provide for a series of obligations that financial intermediaries must adhere to, e. With regard to cryptocurrencies, the following is important concerning anti-money laundering regulations:. However, there are specific rules in place, which aim at generally promoting FinTech developments in Switzerland. In , the Swiss government announced that it plans on reducing barriers to market entry for FinTech businesses.

Under Swiss law, it is undisputed that securities may be legally owned. With regard to tokens that do not qualify as securities, i. Moreover, for crypto-based assets that banks hold as deposit assets for custodian clients, FINMA may, under the DLT-Law, set a maximum amount on a case-by-case basis if this appears necessary due to the risks associated with such business.

Specifically, with regard to stablecoins, no general statement is possible whether financial market activities in connection with such coins require any financial market licence. Depending on their design features, stablecoins must therefore be analysed on a case-by-case basis to determine whether any such licence is required.

Design features such as i whether a single underlying or a basket of underlyings is used, ii the type of underlying, as well as iii if the stablecoin in question gives the holder a contractual redemption claim with regard to the underlying s , respectively, the value of the underlying s , or if the token merely fulfils the function of evidencing an ownership position with regard to the underlying s , may be decisive.

For example, according to the FINMA Supplement, in particular issuers of stablecoins that are linked to i fiat currency applying a fixed ratio e. For instance, FINMA may qualify a currency, security or commodity-linked stablecoin that provides each holder with a redemption claim, whose value is derived from the value of a basket containing various currencies, securities, and commodities, as a collective investment scheme, provided that the underlying assets contained in such basket are managed by the issuer for the account and risk of the token holders.

The latter, according to FINMA, mainly means that all opportunities and risks of asset management in the form of profits or losses due to, among other things, interest rates, fluctuations in the value of the underlying assets, and counterparty and operational risks, are borne by the holders of the stablecoin in question. With regard to licensing requirements, it must further be kept in mind that Switzerland implemented the new FinIA along with FinSA in These new acts set forth a new licensing requirement for individual asset managers and a registration requirement for client advisors.

Such registration will be subject to certain requirements such as proof of sufficient education, training and professional experience in the respective area of practice. Under the former Swiss insolvency regime, it was not sufficiently clear whether cryptocurrencies could be segregated in favour of the entitled creditors if a third-party custodian, such as a wallet provider, were to enter into bankruptcy proceedings. In view of these uncertainties, the DLT-Law introduced a new segregation regime that allows the segregation of crypto-assets for the benefit of the relevant creditors and investors in the bankruptcy of the custodian, if certain requirements are met, including, in particular, the following:.

Therefore, the custody set-up under which the cryptocurrencies are stored is decisive for the question of whether the cryptocurrencies will be segregated in insolvency. Switzerland has no laws or regulations that are tailor-made to the phenomenon of cryptocurrencies or mining of cryptocurrencies.

Hence, mining of cryptocurrencies is permitted and the activity is not subject to particular laws and regulations. In Switzerland, there are no particular border restrictions or declaration requirements that would apply to cryptocurrencies.

In Switzerland, making payments with cryptocurrencies is not a regulated activity and there are no reporting requirements to be met when such payments are made. In Switzerland, there are no particular estate planning or testamentary succession aspects concerning cryptocurrencies. Under Swiss law, heirs acquire the inheritance as a whole upon death of the testator by operation of law. Therefore, all possessions with an inheritable value are transferred to the heirs by universal succession.

Cryptocurrencies such as Bitcoin are considered to have an inheritable value. Bitcoins that are recorded on a blockchain are attached to the latter. Problems arise when the heir does not possess the necessary means usually the private keys to dispose of the inherited cryptocurrencies. The content of this website is for general information purposes only and does not purport to provide comprehensive full legal or other advice.

Global Legal Group Ltd. This material is intended to give an indication of legal issues upon which you may need advice. Full legal advice should be taken from a qualified professional when dealing with specific situations. Please see our terms and conditions page for further details.

Free Newsletter. About Us Contact Us Partners. Toggle navigation. Sign up for free newsletter. Government attitude and definition. Cryptocurrency legislation. Sales regulation. Money transmission laws and anti-money laundering requirements. Promotion and testing. Ownership and licensing requirements.

Border restrictions and declaration. Reporting requirements. Estate planning and testamentary succession. Back to top. Definition Swiss law does not define the terms cryptocurrency or virtual currency. Utility tokens are tokens that are intended to provide access digitally to an application or service by means of a DLT-based infrastructure.

Asset tokens represent assets such as a debt or an equity claim against the issuer. Asset tokens promise, for example, a share in future company earnings or future capital flows.

UNICEF launches Cryptocurrency Fund

So Tad Park of Volt Equity is betting on companies that stand to benefit from the rise of crypto. That's giving Tad Park of Volt Equity a boost as he gears up for his own attempt to introduce bitcoin to the broader market. ProShares had an impressive debut. Those movements closely tracked the price of bitcoin itself — which is part of the point. Entrepreneurs and even established investment management operations have pushed to introduce vehicles which would directly invest in cryptocurrencies and sell shares to the public as exchange-traded funds. It's set to begin trading in a few weeks under the ticker symbol BTCR. Park's Volt Crypto is taking a different approach: investing in companies that make most of their money from bitcoin and crypto.

The 10 Public Companies With the Biggest Bitcoin Portfolios

For years, the U. Historically, Uncle Sam has done a pretty lousy job of timing the market. The government has obtained all that bitcoin by seizing it, alongside the usual assets one would expect from high-profile criminal sting operations. It all gets sold off in a similar fashion. Unlike other auctions where the proceeds are redistributed to different government agencies, the cash from this crypto sale will be used to reimburse victims of the fraud. The government's crypto seizure and sale operation is growing so fast that it just enlisted the help of the private sector to manage the storage and sales of its hoard of tokens. For the most part, the U. But he predicts that in three to five years, "there will be manuals edited and updated with, this is how you approach crypto tracing, this is how you approach crypto seizure. There are currently three main junctures in the flow of bitcoin and other cryptocurrencies through the criminal justice system in the U.

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Cryptocurrencies like bitcoin have few fans in Washington. At a July congressional hearing, Senator Elizabeth Warren warned that cryptocurrency "puts the [financial] system at the whims of some shadowy, faceless group of super-coders. Thus far, Bitcoin's supporters remain undeterred. The term "Bitcoin" with a capital "B" is used here and throughout to refer to the system of cryptography and technology that produces the currency "bitcoin" with a lowercase "b" and verifies bitcoin transactions. To younger Americans, digital money is as intuitive as digital media and digital friendships.

Total crypto fund inflows top $5 bln this year, up more than 600% - report

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Corporates investing in crypto

Cryptocurrency exchanges like Binance, Coinbase and Kraken could be forced to collect the details of people sending and receiving crypto under new rules proposed by the European Commission. The EU's executive branch announced the potential change on Tuesday as part of a package of reforms aimed at tackling financial crime within the bloc. The proposed rules would require cryptocurrency exchanges to collect customers' identifying information, bringing them in line with the "Know Your Customer" KYS rules already imposed on other financial institutions. The new law would also establish a new EU-wide anti-money laundering authority AMLA with oversight of cryptocurrencies by Some crypto-asset service providers are already covered by the EU's anti-money laundering and terrorism funding rules.

Why Governments Are Wary of Bitcoin

Summer on Seneca Lake, the largest of the Finger Lakes in upstate New York, is usually a time of boating, fishing, swimming and wine tasting. But for many residents of this bucolic region, there's a new activity this season — protesting a gas-fired power plant that they say is polluting the air and heating the lake. They have increased the electrical power output at the gas-fired plant in the past year and a half and use much of the fossil-fuel energy not to keep the lights on in surrounding towns but for the energy-intensive "mining" of bitcoins. Bitcoin is a cryptocurrency — a digital form of money with no actual bills or coins.

For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business. Over the past year and a half, fueled by the economic effects of the COVID pandemic, that taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin. Others followed suit, including payments processor Square and EV manufacturer Tesla. For investors unwilling to buy Bitcoin themselves, buying shares in public companies that hold Bitcoin can be a way of gaining exposure to the asset without the hassle of arranging self-custody. MicroStrategy, a prominent business analytics platform, has adopted Bitcoin as its primary reserve asset.

IDX Advisors , a quantitative asset manager in the crypto and digital asset space, uses a strategy that seeks to reduce downside exposure to Bitcoin futures markets. We designed this product mainly for institutional investors and fiduciaries that are very risk-conscious and are looking for what we believe is prudent exposure to the asset class. He noted that given the novelty of digital assets in mainstream capital markets, launching the product required close engagement with the SEC. Strauss Troy is recognized by U. Strauss Troy has earned 16 metropolitan rankings and was nationally ranked in Project Finance Law. IDX Advisors is an SEC-registered investment adviser and a quantitative asset manager that specializes in solving for the common difficulties associated with owning digital assets as a fiduciary.

Site Map Contacts U. Department of Justice. Approximately 4,