Bitcoin companies see wave of migration to Switzerland

     Bitcoin prices fluctuated in Asian trading on Tuesday (September 15), giving up some of their overnight gains.

The quotes released by BITSTAMP show that Bitcoin/US dollar (XBT/USD) rebounded sharply from around 226 to above 232 yesterday. The Asian session of this trading day was volatile, giving up some of the gains to the 231 level.

According to the quotes published by KRAKEN, Bitcoin/Euro (XBT/EUR) rose sharply from below 202 to 207 yesterday. It then gave up the gains and traded above 204 in the Asian session of this trading day.

In terms of industry, considering Switzerland's favorable development environment and laws and regulations, many Bitcoin start-ups, including wallet service providers, trading and consulting companies, have begun to move to Switzerland in the past few months.

The Swiss government exempted Bitcoin from VAT earlier this year, which played a key role in attracting a large number of Bitcoin trading platforms and Bitcoin ATM operators to move to Switzerland.

The latest news is that BitXATM, a Bitcoin consulting and solution provider, has recently installed a two-way Bitcoin ATM in Bern, the capital of Switzerland. Transactions are charged a 5% handling fee, with a daily maximum limit of $5,159.

At 11:52 Beijing time on September 15, Bitcoin/USD was 231.03 and Bitcoin/Euro was 204.76.