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Archived from the original on 10 November 2014. But the SNB told the companies to go to finma. It is tasked with policy initiatives for financial innovation which includes new developments like cryptocurrencies. Social Science Research Network.
In 2017, China outright banned initial coin offerings (ICOs). Reuters reported that some companies had asked the Swiss National Bank (SNB) to intervene. In this light, the paper then asks how technical progress might raise the efficiency of Bitcoin-type payments. While some countries have explicitly allowed their use and trade, 51 others have banned or restricted. Secret Service agent Shaun Bridges pleaded guilty to crimes relating to his diversion of 800,000 worth of bitcoins to his personal account during the investigation, and also separately pleaded guilty to money laundering in connection with another cryptocurrency. Further, it explores what the future might hold for cryptocurrencies modelled on this type of consensus algorithm.
Cryptocurrencies: Regulating the new economy