Crypto ATMs for sale in Switzerland

About Bitcovault Bitcoin ATMs

Bitcovault teller machines for cryptocurrency exchanging: Bitcoin and Ethereum into fiat money (CH franc, etc.) are reliable and flexible; they are manufactured by the company with a great experience in the field of fintech equipment and software development.

It is worth noting that the software installed on Bitcoin ATMs produced by Bitcovault is developed by a team of developers inside the company, which ensures the reliability and flexibility of the whole crypto system. We have also developed our own crypto wallet called Payperless - which guarantees that we have a state-of-the-art team of developers and technical support for our product - Bitcoin machines in CH.

Cryptocurrency regulation in Switzerland

Gradually, the introduction of technology is also happening at the state level: crypto ATM projects are created to reduce the corruption component, for example, as in Georgia, or to simplify the processes of funds distribution, as in the UK. Another significant indicator of state interest is the adoption of the first legislative initiatives. Leaders in this area are Japan and Switzerland. In the former, cryptocurrencies have already officially received the status of means of payment, due to which more than half of bitcoin transactions worldwide last year were carried out in the Japanese yen. Nevertheless, the Japanese government is still conservative: cryptocurrencies will have to wait for more than a year to become a truly trustworthy currency.

Regulation of cryptocurrencies in Switzerland is characterized by the fact that they do not have the status means of payment. According to the report of the Federal Council of Switzerland - these are assets and actions which are regulated by a number of documents, including the Criminal Code. At the same time, the legal framework of the country itself with regard to cryptocurrencies is very well developed: the use of bitcoins when buying goods or paying for services does not require a special license.

Swiss banks actively open accounts for companies working with cryptocurrencies, and in some regions - for example, in the canton of Zug - bitcoins are even accepted when paying for municipal services. At the same time, the country is careful to ensure that operations with cryptocurrency are not carried out by unreliable companies: in order to get registration for the legitimate implementation of activities, it is necessary to have on the account not less than 20 thousand francs, or about $21.4 thousand. Cryptocurrency in Switzerland is taxed at the federal level. Income tax is levied at the cantonal level, with tax rates varying from canton to canton.

Regulation of cryptocurrencies in Switzerland as financial securities

There are currently no regulations specific to initial coin offerings (ICOs). However, depending on how the ICO is designed, financial market laws may apply. This is assessed individually by the Swiss Financial Market Supervisory Authority (FINMA). It distinguishes between payment tokens (cryptocurrencies), service tokens, and asset tokens:

• Payment tokens (cryptocurrencies) are defined as tokens that are used as a means of payment or as a means to transfer money or value.
• Utility tokens are tokens that provide digital access to an application or service through a blockchain-based infrastructure.
• Asset tokens represent assets such as debt or a capital claim against an issuer.

According to FINMA, asset tokens are similar to stocks, bonds, and financial derivatives. Financial market infrastructure operators must obtain permission from FINMA.