Bitcoin ATM Producer Moves to Switzerland Due to Regulatory Difficulties

Bitcoin (BTC) automated teller machine (ATM) manufacturer Lamassu has moved to Switzerland due to regulatory difficulties in other countries, according to a blog post published Jan. 1.

Lamassu — now called Lamassu Industries AG — has moved to the Swiss canton of Lucerne, because the firm wants “to be in a place where rules are well defined and regulators are pro-innovation.”

Lamassu revealed in the post that its applications to open an account were rejected by 15 banks because it produces terminals for Bitcoin, while not taking part in trading or storing digital currencies. Additionally, the company was purportedly rejected by payment processor Stripe for having the word Bitcoin on their site.

Reference: https://cointelegraph.com/news/bitcoin-atm-producer-moves-to-switzerland-due-to-regulatory-difficulties

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