Switzerland’s fast-growing cryptocurrency industry could have full access to conventional banking services by the end of the year, removing one of the restrictions to future growth Yet this nation, as closely tied to its ultrasafe Swiss franc as it is to the Alps, is entranced by volatile digital currencies. Buildings in Zug and in Zurich, Switzerland’s financial center, are blossoming into crypto-finance hubs.
Four of the 10 biggest initial coin offerings last year were in Switzerland, according to PwC, more than any other country. May be Switzerland make a world a cryptocurrency
Topic: Is Switzerland a cryptocurrency heaven? (Read 1487 times)
Is Switzerland a cryptocurrency heaven?
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
When bitcoin was introduced, everyone were in against of bitcoin and no one wants bitcoin to get legalised anywhere but then with passage of time, people slowly understood the potential of bitcoin and then started investing into bitcoin and approximately there are millions of people around the world who are investing into bitcoin and then now there are few countries who has also legalised bitcoin in their nation and this is very happy to see that Switzerland 🇨🇭 is one of them. The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
Is Switzerland a cryptocurrency heaven?
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
Indeed Switzerland is like a heaven for crypto enthusiast, i think is mostly because the people of Switzerland is very acceptable with change and can willingly accept the technology of like cryptocurrency. The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
I think that for different people, there is another definition of electronic money heaven. Switzerland is one of the leaders in the financial sector. On the basis of the daily cryptocurrency will be accepted in every country, this is my dream. At this time, India is trying to pull bitcoin as prescribed. There are other players who are also trying to become an electronic money hub. Swiss are very wealthy because of their financial services, so it's not a big surprise that they are also trying to get in the crypto game. The Swiss Federal Government is currently considering some of the options, risks, and opportunities to launch the state e-currency with its "e-franc" blockchain. Switzerland proves that there is no legitimate electronic money loss of a country. Hopefully this will serve as a model to be followed by other countries as well.
Is Switzerland a cryptocurrency heaven?
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
Indeed Switzerland is like a heaven for crypto enthusiast, i think is mostly because the people of Switzerland is very acceptable with change and can willingly accept the technology of like cryptocurrency. The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
Can you pay a bitcoin? Switzerland is a very progressive country and it grows a lot. Because the Swiss government is very supportive of developing electronic money and stopping it!A number of good policies have attracted blockchain companies and investment technology into Switzerland, and more and more blockchain companies will invest and grow in Switzerland! But I think Switzerland can become it. In addition, many organizations now work with electronic money with offices in Switzerland.
according to news and online blogs, Switzerland is very friendly toward Blockchain and Crypto, so, after Japan, I will consider Switzerland as Crypto Heaven.
There are other players which are also trying to become a cryptocurrency hub.
From the top of my head - Malta, Estonia, Latvia.
Switzerland is so rich because of their financial services , so it is not a big surpise that they are also trying to get in crypto game.
It is hard to tell which country is th ebest, only serious professionals which have been involved in different projects at management level can answer this question.
Malta is the best choice in my opinion, not too difficult to get a residency card there, as long as you get some savings. Estonia is very friendly towards Bitcoin but two issues: climate (much less friendly that Malta) and the language (in Malta 90% of residents are foreigners on the main island so the language most used is English).From the top of my head - Malta, Estonia, Latvia.
Switzerland is so rich because of their financial services , so it is not a big surpise that they are also trying to get in crypto game.
It is hard to tell which country is th ebest, only serious professionals which have been involved in different projects at management level can answer this question.
That's why Malta ticks all the boxes for me, even though it's a small place that tends to get boring after a while.
Big things are happening in Switzerland
https://memo.cash/post/cb810d8026d7ea82909391bf4fa6ad4f2342b8ea9f07ec1ac80fc5cca08a0270
https://memo.cash/post/cb810d8026d7ea82909391bf4fa6ad4f2342b8ea9f07ec1ac80fc5cca08a0270
I think that the cryptocurrency does not limit the possibilities of countries, but rather strengthens them, so this movement can help Switzerland
Switzerland proves that there is no loss of a nation's legitimate electronic money. I believe so too. Hopefully this will serve as a model to be followed by other nations as well. However, while the real policy is paradise, the country has not been updated and most shops and businesses still do not accept the BTC as every other country.
The Swiss federal government is currently considering several options, risks, and opportunities to launch the state's cryptocurrency with its blockchain "e-franc". Swiss lawmaker and Vice President of the Swiss Social Democratic Party, Cédric Wermuth, with the support of the 7-member Federal Council, has proposed that the government assess the possibility of owning the country's original digital currency.
There are other players which are also trying to become a cryptocurrency hub.
From the top of my head - Malta, Estonia, Latvia.
From the top of my head - Malta, Estonia, Latvia.
Yes, there's a lot of nation who is more friendly. And @bitcoindusts, it looks like they shoot down the bitcoin like financial systems. So I'm expecting a tougher regulations to be introduced by them.
Switzerland is so rich because of their financial services , so it is not a big surpise that they are also trying to get in crypto game.
It is hard to tell which country is th ebest, only serious professionals which have been involved in different projects at management level can answer this question.
It is hard to tell which country is th ebest, only serious professionals which have been involved in different projects at management level can answer this question.
For capital markets, Switzerland is still a haven but Its a still a along way to go and its a different story as far as crypto is concern. I do hope that they progress the used of blockchain technology though. Specially the so called blockchain-voting system,
(http://www.swissinfo.ch/eng/crypto-valley-_-switzerland-s-first-municipal-blockchain-vote-hailed-a-success/44230928)
Never been in Switzerland but I lot has change specially the number of ATM across the country:
(https://coinatmradar.com/country/206/bitcoin-atm-switzerland/)
Is Switzerland a cryptocurrency heaven?
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
First off, the initiative to a bitcoin-like financial system in Switzerland was voted down. It did not push through although it was able to gain 500,000 votes in totality. It could have been really a breath taking moment for cryptocurrency world if this initiative pushed through.
Yet, i could never discount the possibility of Switzerland being the haven of cryptocurrency as they have the Crypto Valley located in the city of Zug accepting bitcoin as payment for certain municipality services. Here we see how their government is open towards embracing bitcoin and cryptocurrencies.
Is Switzerland a cryptocurrency heaven?
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
Yes switzerland is a cryptocurrency heaven because of its wide adoption and usage credibility of its government of digital money . Since as we all know swiss bank has billions and billions of black money from all around the world . So to increase it's capacity and also the security of any paper leaks cryptocurrencies can help in maintaining them .
There are other players which are also trying to become a cryptocurrency hub.
From the top of my head - Malta, Estonia, Latvia.
Switzerland is so rich because of their financial services , so it is not a big surpise that they are also trying to get in crypto game.
It is hard to tell which country is th ebest, only serious professionals which have been involved in different projects at management level can answer this question.
From the top of my head - Malta, Estonia, Latvia.
Switzerland is so rich because of their financial services , so it is not a big surpise that they are also trying to get in crypto game.
It is hard to tell which country is th ebest, only serious professionals which have been involved in different projects at management level can answer this question.
On daily basis crypto will get accepted in every country, this is my dream. India is a country in South Asia, if I am not wrong, they banned bitcoin, and again they open the door for the bitcoin, At this moment, India is trying to pull bitcoin under regulations. So, I think europe/switzerland and other countries in south Asia will accept bitcoin soon enough.
I think that for different people there is a different definition of cryptocurrency paradise. But I think that Switzerland can become it. Switzerland is one of the leaders in the financial sphere. Besides, already now many organizations working with cryptocurrency have an office in Switzerland.
Is Switzerland a cryptocurrency heaven?
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
Swiss is so wealthy because it has been adapting all kinds of finacial instruments and with that they also are allowing shady people to store their value there as dicators and so on.
But regarding cryptos it certantly is welcoming but other countries are also like Belarus,Baltic States,especially Estonia.
Switzerland – the Country Which Has Become Cryptocurrency Paradise
Switzerland is on the first place out of ten most crypto-friendly countries in the world. Positive treatment of cryptocurrencies, welcoming taxation environment and government’s support have made the country a desirable place for technological development and a paradise for crypto enthusiasts.
Switzerland, Crypto Sector and European Union
What are cryptocurrencies? “Private money” in Germany, “utility and security tokens” in France and “transferable value” in Denmark. In Switzerland, however, cryptocurrencies are defined as assets, therefore, they don’t fall under strict regulations.
Moreover, since August 1, 2017, the country has introduced new simplified policies regarding fintech business management to make the sector more accessible for blockchain companies and startups.
For instance, several amendments have been added, such as the amendment to the Banking Ordinance (BankO). According to it, accepting public funds up to CHF 1 million, firms could apply business models without authorisation.
The simplifications of the rules were suggested with the purpose to enhance the competitiveness of the Swiss financial area.
How Does Switzerland Support ICOs?
Talking about ICOs, according to the PwC report, in the first 5 months of this year, 537 ICOs have been successfully conducted. The amount of capital raised is USD 13.7 billion, which is more than all ICOs launched before 2018 combined have raised. Switzerland has played one of the main roles in the process, remaining a key global ICO hub.
For support of initial coin offerings and Blockchain in general, the Swiss Financial Market Supervisory Authority (FINMA) has released guidelines for regulating ICOs. They are mostly treated as securities with some exceptions for utility tokens and means of payment.
What Has Crypto Community Already Done in 2018?
Switzerland is an outstanding country in a way how it applies DLT in various industries apart from finances and shows the innovative practical use cases.
First municipal voting with Blockchain
On July 1, the Swiss Crypto Valley has successfully completed the testing of the DLT-based voting system. For the purpose, Zug’s electronic ID system was used, and utilizing DLT, the process was completed without the single server. According to the results, most of the partakers found the system easy and convenient.
University diplomas secured by blockchain
The innovative system was introduced by the University of Basel. By registering certificates on ETH smart contracts, the information will be easily verified and protected from fraud.
Crypto events
As the country has the active crypto community and many developing crypto businesses, it hosts many blockchain conferences, events and shows. The purpose of conducting such meetings is to pay attention to DLT, study and analyse its applications and possibilities. One of the upcoming large crypto events is the Blockchain & Bitcoin Conference Switzerland.
Cargo handling with DLT
Swissport, the provider of aviation services, together with Olam have launched a program for goods transportation. Integrating DLT in the industry, companies are planning to speed up the transactions, improve security and reduce operational costs by eliminating the paperwork.
First Blockchain-based smartphone
The smartphone developer Sirin Labs plans to release a DLT-based mobile phone in November 2018.
The company has already raised $157.8 million for this purpose via ICO. The innovative smartphone called Finney will cost around $1,000 and will combine a crypto wallet, TCS, and DApps store.
Leading other industries
Switzerland is not only a pioneer in many DLT uses but also a leading developer of the technology in other spheres. The country has corporations implementing Blockchain in data storage, supply chains, right protection and insurance sector.
Switzerland Inspiring Other Countries
Switzerland shows a lot of practical uses of Blockchain and innovative technological solutions, encouraging other countries to follow its steps.
South Korea, for example, is going to create a ‘Crypto Beach’ similar to Swiss ‘Crypto Valley’.
The Korea ICT Financial Convergence Association has announced the construction of the Blockchain center at the Haeundae beachfront in Busan.
Doing this, the company’s chairman plans to raise the government’s understanding of DLT and eliminate the current ban on ICOs.
It is not a surprise that Switzerland is considered a crypto paradise, and all the facts confirm its status of the advanced country regarding cryptocurrencies, blockchain and ICOs.
Source: © Blockchain & Bitcoin Conference Switzerland https://switzerland.bc.events/en/article/switzerland-the-country-which-has-become-cryptocurrency-paradise-91653
Nice comment, thanks for this. You found some nice info about cryptocurrencies in Switzerland and for some I didn`t know. In my time here I think Switzerland, as small but strong country, is silent about cryptocurrencies. There are no big news from there, they embraced cryptocurrencies like they are a normal thing, probably they will be one of the top cryptocurrencies countries. They recognize the potential of the crypto technologies and they are Switzerland is on the first place out of ten most crypto-friendly countries in the world. Positive treatment of cryptocurrencies, welcoming taxation environment and government’s support have made the country a desirable place for technological development and a paradise for crypto enthusiasts.
Switzerland, Crypto Sector and European Union
What are cryptocurrencies? “Private money” in Germany, “utility and security tokens” in France and “transferable value” in Denmark. In Switzerland, however, cryptocurrencies are defined as assets, therefore, they don’t fall under strict regulations.
Moreover, since August 1, 2017, the country has introduced new simplified policies regarding fintech business management to make the sector more accessible for blockchain companies and startups.
For instance, several amendments have been added, such as the amendment to the Banking Ordinance (BankO). According to it, accepting public funds up to CHF 1 million, firms could apply business models without authorisation.
The simplifications of the rules were suggested with the purpose to enhance the competitiveness of the Swiss financial area.
How Does Switzerland Support ICOs?
Talking about ICOs, according to the PwC report, in the first 5 months of this year, 537 ICOs have been successfully conducted. The amount of capital raised is USD 13.7 billion, which is more than all ICOs launched before 2018 combined have raised. Switzerland has played one of the main roles in the process, remaining a key global ICO hub.
For support of initial coin offerings and Blockchain in general, the Swiss Financial Market Supervisory Authority (FINMA) has released guidelines for regulating ICOs. They are mostly treated as securities with some exceptions for utility tokens and means of payment.
What Has Crypto Community Already Done in 2018?
Switzerland is an outstanding country in a way how it applies DLT in various industries apart from finances and shows the innovative practical use cases.
First municipal voting with Blockchain
On July 1, the Swiss Crypto Valley has successfully completed the testing of the DLT-based voting system. For the purpose, Zug’s electronic ID system was used, and utilizing DLT, the process was completed without the single server. According to the results, most of the partakers found the system easy and convenient.
University diplomas secured by blockchain
The innovative system was introduced by the University of Basel. By registering certificates on ETH smart contracts, the information will be easily verified and protected from fraud.
Crypto events
As the country has the active crypto community and many developing crypto businesses, it hosts many blockchain conferences, events and shows. The purpose of conducting such meetings is to pay attention to DLT, study and analyse its applications and possibilities. One of the upcoming large crypto events is the Blockchain & Bitcoin Conference Switzerland.
Cargo handling with DLT
Swissport, the provider of aviation services, together with Olam have launched a program for goods transportation. Integrating DLT in the industry, companies are planning to speed up the transactions, improve security and reduce operational costs by eliminating the paperwork.
First Blockchain-based smartphone
The smartphone developer Sirin Labs plans to release a DLT-based mobile phone in November 2018.
The company has already raised $157.8 million for this purpose via ICO. The innovative smartphone called Finney will cost around $1,000 and will combine a crypto wallet, TCS, and DApps store.
Leading other industries
Switzerland is not only a pioneer in many DLT uses but also a leading developer of the technology in other spheres. The country has corporations implementing Blockchain in data storage, supply chains, right protection and insurance sector.
Switzerland Inspiring Other Countries
Switzerland shows a lot of practical uses of Blockchain and innovative technological solutions, encouraging other countries to follow its steps.
South Korea, for example, is going to create a ‘Crypto Beach’ similar to Swiss ‘Crypto Valley’.
The Korea ICT Financial Convergence Association has announced the construction of the Blockchain center at the Haeundae beachfront in Busan.
Doing this, the company’s chairman plans to raise the government’s understanding of DLT and eliminate the current ban on ICOs.
It is not a surprise that Switzerland is considered a crypto paradise, and all the facts confirm its status of the advanced country regarding cryptocurrencies, blockchain and ICOs.
Source: © Blockchain & Bitcoin Conference Switzerland https://switzerland.bc.events/en/article/switzerland-the-country-which-has-become-cryptocurrency-paradise-91653
going forward with that. We will see more from them very soon!
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