[2016-11-03] Swiss Lawmakers Take Steps Toward Bitcoin Regulation

Kprawn

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Quote from: philggg on November 07, 2016, 10:53:02 AM

Wow that good news that,countries are know embracing bitcoin, other countries should follow suite

You have it wrong my friend... Bitcoin regulation, if it is applied in the wrong way... {for example : BitLicence} hurts Bitcoin more than anything else.

The regulation that were introduced in New York, was expensive and the process over complicated to slow down Bitcoin. So let's hope Switzerland

can regulate Bitcoin without being a barrier to entry for the people who cannot afford these licenses and the expensive process to get them. Roll Eyes

philggg

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Wow that good news that,countries are know embracing bitcoin, other countries should follow suite

Goms

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If Switzerland decides to make bitcoin its official currency, it will greatly accelerate mass adoption because it is a country focused on banking.

foserfox

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Its national railway service may have already jumped on the bitcoin bandwagon, but Switzerland is taking a slower approach as it looks to regulate digital currencies and fintech.

Days after Swiss rail operator SBB made international headlines for the decision to sell bitcoin through its network of ticket kiosks, the country’s Federal Department of Finance (FDF) outlined its plans to regulate fintech with an eye to introduce legislation sometime next year.

Key elements include plans for a new kind of license geared specifically toward fintech companies and a so-called regulatory “sandbox” for experimental firms. Under the proposed regime, the Financial Market Supervisory Authority would become the primary regulator of fintech firms working in Switzerland.

Questions remain, however. In a statement, the FDF said that it will pursue additional research into bitcoin and other digital currencies, as well as broader applications of blockchain.

http://www.coindesk.com/switzerland-bitcoin-regulation/

Topic: [2016-11-03] Swiss Lawmakers Take Steps Toward Bitcoin Regulation (Read 362 times)