Topic: Is Switzerland a cryptocurrency heaven? - page 2. (Read 1507 times)

Too many ICO scams

https://youtu.be/LScsLf1O2io

Because the Swiss government is very supportive of the development of cryptocurrencies and blockchains! Their financial sector has always liked to innovate!
Some good policies have attracted blockchain and technology companies to invest in Switzerland, and more and more blockchain companies will invest and develop in Switzerland!

Switzerland – the Country Which Has Become Cryptocurrency Paradise

https://a.radikal.ru/a01/1809/e7/96e92d1afc8f.jpg

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

What do you mean? Switzerland is a very progressive country and it develops a lot. And the crypto-currency industry is also developing.

Switzerland is a magnificent and progressive country! This news confirms this once again. But unfortunately after that I did not hear anything. What changed in a year? Is it possible to pay bitcoin?

I always like Switzerland and their official rules. Which is very friendly to the establishment or implementation of cryptocurrency. They are not afraid, but they like to keep pace with the technology.

Response of Switzerland towards crypto-currencies are really appreciating. Even Big Four accounting firm EY Switzerland office was planning to accept BTC as a payment to their services, Not only this they will also install BTC ATM outside their office. Even Switzerland Govt. is also very supportive towards BITCOIN or other crypto-currency usage.

While the policies are really heaven like, the country still not updated and most of day-to-day stores and business still don't accept BTC like every other country.

So no.

I believe so.
Having your government to accept crytocurrency in your country is a great thing.
Hopefully this will serve as a model to be followed up by other country as well.
And if everything goes well withSwitzerland then i guess it will surely happen.

Yes, Switzerland does legalize Cryptocurrency. And many ICO projects are born and centered there. This proves that there is no loss of a country legalizing Cryptocurrency. From Switzerland, should a country that forbid Cryptocurrency learn to examine and understand in advance what they consider illegal.

wow a lot of misconceptions here...here are my crypto learnings from last 12 months

- 2017 was definitely a year of crypto here in Switzerland

- So called Crypto Valley brings a number of [Suspicious link removed]panies together, to include software developers, marketing, investors, legal firms. It's an awesome starting place to meet the local crypto community, lots of events and friendly people willing to share and collaborate.

- Although the legal system and regulator is recognising cryptocurrencies which is already a big step, it's still far from being a crypto heaven, it's difficult to open a bank account if you deal with crypto.

- The adoption of crypto in Switzerland is very low, I rarely see places accepting crypto

- Legal work for ICOs, particularly for security tokens is expensive and takes too long, the foundations that were launched are borderline legal

- There is a huge drive for digitalisation of the economy, particularly around fintech, transparency to banking means end to a lot of businesses and Switzerland is using this as an opportunity to build a sustainable economy, also around crypto. It's really happening, but not so fast as some of the users here imagine.

There is more for sure, but these were my main observations.

Greetings from Zurich!

Judging by their good banking system I think they will be good with cryptocurrencies if they establish a lot of international cryptocurrency exchanges over there to serve overseas clients etc.

With such a statement you are definitely not going to make friends in Switzerland  The situation is as the above poster mentioned 

As a Swiss citizen I would say that the general environment in Switzerland is beneficial for cryptocurrencies. But I wouldn't say yet that Switzerland is a cryptocurrency heaven (e.g. compared with Japan).

But it's true in most train stations you are able to buy bitcoin (but not able to sell it). To be honest that sounds actually better than it really is. Conditions are bad compared with an online market place. Last time I checked there were fees that are significantly higher like e.g. on Kraken. You can't buy a train ticket with it.

Also the online stock broker Swissquote added Bitcoin support. However, you can only trade it against fiat currencies (only USD or EUR). There is no "wallet function" which means that cryptocurrencies can't be transferred out and you can't buy goods from such purchases. However they plan to add some other crypto's.

The Falcon private bank is way more interesting because it is opening the door for high net worth individuals to invest in cryptos.

There is also the city of Zug with it's adminstration accepting BTC as payment. But this is only until the equivalent of 200 CHF. Anyway a good start and for sure a markting coup.

All in all not really much flesh on the bone yet...

No, Switzerland is not part of EU. Switzerland and EU only have the so called "bilateral agreements". These (recent, 2005) agreements are about many things (security, asylum, environment), but Swiss is absolutely not part of EU. In fact, swiss people are mainly against being part of EU. They want to remain independent and autonomous.

At the moment, Switzerland is doing many things towards the digital economy, like building huge server vaults under the mountains to keep google servers safe in case of a catastrophe. I heard some swiss banks are now moving towards cryptocurrencies. I'm almost sure some private banks specialized in crypto already exist there but I don't know much about that.
To me, it is very obvious Switzerland will be one of the first countries accepting cryptocurrencies at large scale. They lost too much with the recent banks scandals, they have to move on and moving to crypto is certainly where they could shine.

Disclaimer : I own both swiss and french nationalities and living on the border

Switzerland is part of EU. EU is a bunch of naive men and women who think they can control the people.

So to answer your question, no switzerland is not a safe haven for crypto. I think you should look towards australia. They have an understanding about how things work, and they only control what makes sense to control.

Hey everyone, check out X8 Project which is closely connected with Swiss infrastructure and focuses on stability.

https://x8currency.com/

I also have heard that bitcoin is a digital currency and digital system is very worthy in Switzerland all the crypto currencies are acceptable and considered very equal to the fiat currency so I think bitcoin will also become very commend among them very soon as the price and value of bitcoin is increasing with time not only in Switzerland but in new York, china, and Japan bitcoin has become very famous.

I once read somewhere that Switzerland will become the Silicon Value for Bitcoin. A Crypto currency hub of innovation and creativity.  90% of

Swiss adult population use a smartphone and 80% a portable laptop and on average, Swiss people spend 8.8 hours per day on digital devices, 1.9

hours on the smartphone. I just hope that they can respect people's privacy and promote pseudo-anonymity and not crush it with KYC/AML style

regulations. 

Cryptocurrency electronic money is also made up of Bitcoin. Switzerland has created an environment of monetary cryptocurrency. This is a developing country and also paving the expansion Bitcoin, Bitcoin value increased rapidly. Banks in this country accepts payment in Bitcoin.

Wow - next hammer...

I'm getting bored somehow posting all that heavy stuff

 

https://www.wallstreet-online.de/nachricht/9743236-bitstamp-and-swissquote-pioneer-bitcoin-integration-with-the-traditional-financial-system