NEWS

Smart Valor, the first cryptocurrency exchange in Switzerland that offers brokerage, custody and trading of nine pairs of cryptocurrencies and FIAT currencies, has been launched. The platform is operated by Zug-based start-up that was created two years ago in Thomson Reuters Incubator.

In a high profile UBS tax evasion case, the Swiss Federal Court approved France’s administration request to transfer banking data on around 40,000 clients of UBS to Paris tax authorities. It is a very important decision for the whole Swiss banking sector.

Less people moved to Switzerland in the first half of the year comparing to the same period last year, as data shows. Immigration rate was 1.8% lower than in H1 2018. There were fewer people moving in to the country both from the EFTA, European Union states and third countries. At the same time the underemployment rate in Switzerland is the highest in Europe.

The Swiss franc exchange rate has rallied again and it hit the two-year peak against the euro. What will be the Swiss National Bank’s reaction to the immensely strong Swiss currency? There are signs that the intervention is finally upon us – or may as well already been undertaken.

The ECB decides to leave interest rates at zero percent. As a result, the euro has been massively strengthened and is currently at 1.105.