Swiss Financial Market Supervisory Authority (FINMA) has asked Bitcoin Suisse, a bitcoin ATM operator, to cancel its planned roll out Bitcoin ATM in Zurich.
The company said that it had suspended all other planned ATM launches in Switzerland for the time being.
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Bitcoin Suisse added that "we expect to back online before the end of June 2014".
The company had set up Holland’s first professional ATM for bitcoins in Hague in March this year.
Bitcoin Suisse’s decision to postpone its services comes at a time when bitcoin is facing increased scrutiny in the banking and finance market across the world.
The Swiss Parliament is considering treating bitcoin as a foreign currency, which was welcomed as a progressive approach by local bitcoin enthusiasts and activist groups.
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By GlobalData
