If you're interested in exchanging bitcoins, trading or holding them for commercial and professional reasons, there are a few things you'll need to know. Due to being a fairly new currency form, there aren't entirely solid rules and regulations in place yet.
Keeping in mind that the Swiss Federal Council stated:
- Intrinsic tokens, including bitcoin, are considered a virtual currency, though:
- They must be treated as though they are a fiat currency or any other currency.
This means that in regards to Swiss law, any organisation's business activities that are required to accept money in the form of cryptocurrency, bitcoin or traditional currency will need a bank license. FINMA outlined that the same rules apply to those who accept bitcoin, as well as those who administer holdings in bitcoin for their clients.
Generally speaking, bitcoin and cryptocurrencies must be considered a traditional currency in every sense. There are no loopholes or any other legal bypass for virtual currencies.