Tech company JAN3, specializing in Bitcoin, recently shared insights on the potential benefits for Switzerland if it were to emulate El Salvador by making Bitcoin legal tender. For Swiss Bitcoin users, the digital asset already enjoys tax advantages, with no capital gains tax on personal transactions or VAT for Bitcoin holders since 2018.

When it comes to sustainability, Switzerland’s existing energy infrastructure could facilitate the seamless integration of Bitcoin into its financial system. Given its reliance on renewable energy, 60% of which is derived from hydroelectricity, it could potentially accomplish sustainable mining, particularly in winter when energy production exceeds demand.

JAN3 stated, “With 15,000 MW of energy capacity (60% from hydro), Switzerland has the potential to scale sustainable #Bitcoin mining. It can do this by surplus renewable power that could help stabilize the grid while unlocking new revenue streams for the country.”

Is Switzerland heading towards making Bitcoin legal tender? Although the Swiss government has made no official announcement concerning replacing the Swiss Franc with Bitcoin, the country has seen several Bitcoin- and crypto-friendly developments recently.

Bitcoin adoption has grown, with approximately 11% of Swiss citizens, equating to around 1.6 million people, now holding Bitcoin. Bitcoin and blockchain-related activities are thriving in areas such as the canton of Zug, also known as Crypto Valley. Furthermore, a Plan B initiative was launched in Lugano in 2022, introducing over 260 Bitcoin merchants.

Despite the Swiss bank recently dismissing Bitcoin as an asset class for its reserves due to volatility issues, the rising demand for the digital asset among Swiss nationals could continue to push for its integration in various sectors.

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Despite recent trade uncertainties, Lyn Alden remains optimistic about Bitcoin’s future. She anticipates a higher Bitcoin value by the end of 2025 than its current standing at roughly $85,000. However, she noted that her previous higher price expectations were impacted by the tariff announcement made by former U.S. President Donald Trump in February.

“Before this tariff situation, I would have projected a higher price,” Alden expressed during her interview with Natalie Brunell on the Coin Stories episode aired on April 17. She also suggested that a “massive liquidity unlock” could potentially spur Bitcoin to reach the more ambitious targets assumed before the tariff imposition.

Meanwhile, despite a Department of Justice memo indicating a shift from “regulation by prosecution,” federal prosecutors are determined to continue their case against Braden John Karony, SafeMoon’s former CEO. Karony is facing charges of securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy for alleged misappropriation and diversion of millions of dollars’ worth of the platform’s SFM token from 2021 to 2022.

In other news, a Spar supermarket in Switzerland’s Zug city has started accepting Bitcoin payments via the Lightning Network. This initiative, announced on April 17, emphasizes the increasing acceptance of cryptocurrency for daily transactions. Switzerland has long been recognized as one of the more crypto-positive nations in Europe, with several early crypto adoption schemes.

The post Today’s Crypto Roundup: Bitcoin Forecast, SafeMoon CEO’s Legal Troubles, and Spar’s Bitcoin Payments appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The digital bond is the first ever digital bond issued by a financial institution worldwide to be listed, traded, and settled on a regulated digital exchange. It works the same way as a regular UBS AG senior unsecured note and has the same legal status and rating.

UBS provides a means for investors who do not have access to the necessary blockchain technology to purchase a digital bond. So, this gets rid of an obstacle to using new, innovative technology that could speed up, streamline, and make the bond-issuing process easier.

Beatriz Martin, who is the UBS Group Treasurer, said that they were excited to use distributed ledger technology to make the first UBS digital bond. It demonstrates their dedication to fostering the growth of innovative financial market infrastructure. UBS is dedicated to turning technology into a competitive advantage rather than just an enabler.

The digital bond is settled using atomic settlement technology, which is based on the central securities depository (CSD) network of the SIX Digital Exchange (SDX). There is no need for a central clearing counterparty since the settlement is quick and automated through SDX CSD. The UBS digital bond will be able to settle and clear immediately on either SDX CSD directly or on SIX SIS through the operational connection initially disclosed on October 3, 2022.

This digital bond, like all previous senior unsecured notes issued by UBS AG that were listed on the SIX Swiss Exchange, will be listed on both SDX Trading and the SIX Swiss Exchange. This means that it can be added to the Swiss Bond Index (SBI).

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Bitcoin Magazine posted a one-minute video on Twitter on October 3 showing how to use a mobile app to place an order at a McDonald’s digital kiosk and then pay for it at a normal register.

What Was Before McDonald’s Bitcoin Payments?

Lugano wants to increase the use of cryptocurrency payments in the city, particularly Bitcoin (BTC) and Tether’s stable token USDT. One of Lightning Network’s most significant new features will be the centerpiece of an event set for the month’s end. Bitcoin’s Layer 2 scalability protocol prioritizes untraceability, speed, and cheap fees for financial transactions.

Lugano Plan B, the crypto event set for the end of October, was established in conjunction with Tether. The chief technology officer at Tether, Paolo Ardoino, will also be a featured speaker. Tether, a stablecoin denominated in USDT, is predominantly traded on the Ethereum and Tron blockchains.

But it was originally born on a Bitcoin sidechain called Omni. Stablecoins like USDT may still be traded for Bitcoin over the Lightning Network. Adoption of cryptocurrencies might be guided by combining the commercial force of USDT with the technical power of the Lightning Network. The government of Lugano wants to help businesses create Lightning Network-compatible crypto payment systems.

Increasing Tether Holdings

Several times in the past, concerns were raised over whether or not stablecoin issuer Tether had adequate USDT reserves. Tether’s CTO, Paolo Ardoino, recently announced that the company has boosted its reserves in Treasury Bills to 58%.

Tether’s ability to keep all USDT reserves at 100% has been questioned in the past. Tether said that it has these reserves in the form of trade receivables and commercial papers.

Commercial papers have a strong reputation as a safe investment instrument in the United States. However, they have mostly been utilized to meet temporary capital requirements. As a consequence, Tether’s use of this device in its reserves has been questioned by many. Tether has also worked to lower its commercial paper hedges over time. Therefore, Tether now has commercial documents valued at far less than $50 million. This is a drop in the bucket compared to USDT’s $68 billion market valuation.

Keep in mind that Tether reserves are very important in the event of large-scale market liquidations. This allows holders of USDT to exchange their tokens for US dollars.

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