Bitcoin wallets get a key approval in Switzerland
” In Switzerland, at least, that matter is settled. Xapo has received ‘conditional approval’ for running its bitcoin wallet service from the country. It’ll have to participate in a self-regulatory organization and meet other unspecified terms, but it won’t have to secure a banking license. As of now, it’s classified as a financial go-between.
Xapo was likely helped by its insistence that it doesn’t take deposits. The firm adds that it won’t serve American customers, potentially due to legal uncertainty surrounding bitcoin.”