Two Swiss Banks Approved for Cryptocurrency Trading and Custody – June 2

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$10,107

Bitcoin price has blasted through the elusive $10,000 mark today, in a powerful upward move which broke several key resistance levels.

Top-20 altcoins have also performed exceptionally well, with Ethereum gaining 6% and XRP gaining 5%. Stellar and Neo were the largest gainers, with each rising 12% overnight.

Top Stories for June 2, 2020 🔥

👉 Two Swiss Banks Approved for Cryptocurrency Trading and Custody

Two Swiss banks have received approval from The Swiss Financial Market Supervisory Authority to offer cryptocurrency-based services.

One of the banks, Maerki Baumann, has now announced the launch of its platform which offer trading and custody of cryptocurrencies. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple are all expected to be offered.

The other bank, Incore Bank, plans to offer a range of cryptocurrency services, including “issuance, distribution, brokerage and storage”.

👉 Canada Now Recognizes Crypto Firms as Money Service Businesses

Beginning today, cryptocurrency companies in Canada will be recognized as money service businesses, thanks to amendments made to a bill originally passed in 2019.

The law change means that crypto companies to report all transactions exceeding CAD$10,000, as well as register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

👉 Crypto Restaurant Review Platform Raises $2.6M in Series A Funding 

SynchroLife – a Japanese cryptocurrency project which hosts restaurant reviews – has raised $2.6 million in its Series A funding round, led by MTG Ventures.

The platform rewards its users with its SynchroCoin token, in exchange for reviewing restaurants or contributing photos and other content. The token is also expected to be accepted as payment at participating restaurants in the future.