"Switzerland wants to be a crypto nation" Economic minister. - page 5.

pitiflin

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I didn't read your article but this is something that would help the markets hopefully. The markets are so hung down, they need some sugar.
Its funny how Switzerland is thinking of this, when they have Swiss banks, got to see what they have got to say, apparently they are also banks at the end of the day. Swiss banks are known for anonymity, now if Swiss becomes a crypto economy, we know what is going to happen Wink

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farhaan

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Switzerland has always been a friendly nation to bitcoin next to japan.Now yet,it has taken another step forward.Its really interesting to hear from switzerland such a thing when most of the countries take a stand against crypto coins.

The financial country of banks Swiss taking such a decision adds more value to the subject than a smaller economic state taking such stand.

We could hope that this move from swiss would make other world countries to rethink about their stand against bitcoin or any other cryptos.

Lancusters

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I believe that Switzerland will provide the opportunity to use cryptocurrency not only its citizens but also citizens of other countries. Only it can be very difficult. America is not interested in the fact that the dollar was losing its appeal in the world. America can very effectively lobby for their interests around the world. So they can get loyal to bitcoin countries to withdraw support for cryptocurrency.

tee-rex

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Quote from: godzillarekt007 on January 31, 2018, 01:26:38 PM

Brilliant, it goes to show that other progressive countries are not going to stand by and let these silly bans happen. They are understand the technology, they aren't greedy about it, and thus they will adopt the technology at a much faster rate which will only benefit their citizens in turn. Shame on you Korea and China we all know why you are "banning" bitcoin and cryptos right now and it isn't for the good of the citizen (which is what you claim)!

Well, bitcoin seems to have been a real pain in the ass for the governments of the countries you mention (Korea and China), and we have yet to see what Switzerland and other European countries which are seemingly pro-bitcoin would be up to if bitmania scaled up there to the level it was in these Asian countries. My point is that we don't know how the "progressive" countries would actually react if people got engaged in bitcoin as deeply as they were in Asia.

godzillarekt007

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Brilliant, it goes to show that other progressive countries are not going to stand by and let these silly bans happen. They are understand the technology, they aren't greedy about it, and thus they will adopt the technology at a much faster rate which will only benefit their citizens in turn. Shame on you Korea and China we all know why you are "banning" bitcoin and cryptos right now and it isn't for the good of the citizen (which is what you claim)!

mahilchii

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Yep, really a motivating news for crypto investors, after all the negative news spread this one makes sense that a country has knowledge and accepting crypto for future development. The other news like some countries like China have imposed ban on bitcoin is not actually a formal news, if it all that is true they can only ban transactions in their country but cannot ban bitcoin as a whole. Anyway, good news heard after Japan's move in crypto.

Msoall

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Switzerland has always been ahead with the finance and has always had an open mind with a fairly reflected economic policy, maybe a little too much, therefore, the bad reputation regarding tax evasion. But nowadays this is no longer an easy thing in the country.
I am not a citizen, but I like the way politic is conducted, it looks more like a democracy than in any country
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This is not democracy, but nothing more than common sense. I loved the news - expected recovery of the cryptocurrency market and increase its capitalization given this information.

LeGaulois

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Quote from: Betwrong on January 30, 2018, 06:58:47 AM

Quote from: trecore4 on January 30, 2018, 04:54:18 AM

Source says nothing much about it. However, I heard same kind of news few months ago that Switzerland is going to invest into crypto currencies and they are making their own coin, something similar.
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Here's another article on the same subject: https://www.express.co.uk/finance/city/911455/Bitcoin-latest-price-live-Switzerland-blockchain-swiss-banks-decline

Only don't read the garbage Roman Bruskov says about "very risky stake" and "wrong reasons". What I really can't understand is Why do they always have to put some rubbish in an article? I mean, c'mon! Look at this guy. Has 31 friends on Facebook

https://www.facebook.com/rouben.bruskov

Does his opinion really matter?

To the OP. I think Switzerland will be a crypto nation. I love this country and the way they care about their citizens. It is a very Bitcoin friendly country alrerady, you can google about it.

Switzerland has always been ahead with the finance and has always had an open mind with a fairly reflected economic policy, maybe a little too much, therefore, the bad reputation regarding tax evasion. But nowadays this is no longer an easy thing in the country.
I am not a citizen, but I like the way politic is conducted, it looks more like a democracy than in any country

shezu007

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If this will happen in real then that will be very strong and great step for crypto and this will make steps to more countries to take positive step toward crypto and in this way world will be start accepting crypto slowly and in last whole world will be start using crypto in place of fiat money.

tiggytomb

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One of the countries has to adopt it and be at the forefront of the crypto future, and I think the first country that fully embraces it will be in a great position once many of the other countries jump on board.

Mpamaegbu

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Quote from: omonuyak on January 30, 2018, 04:42:35 AM

I read this news at https://www.fxstreet.com/news/swiss-ecomin-switzerland-wants-to-be-a-crypto-nation-201801300630 and its really gladly my heart.
Economy minister Johann Schneider Ammann, Said "Switzerland want to be a crypto nation" as at the time when many developed and developing countries are expressing their negative options on cryptocoin and we are hearing news that many countries want to ban it. What is your take on this move or comments?

This is really a plus to the crypto world. It is going the Venezuela and Japan route. More countries should begin to think and adopt this modern way of monetary transaction.

Pointedly, I believe now is the time for the Africa continent to key in and catch up with the rest of the world technologically, only if their leaders will adjust to learning. Cryptocurrency has come to stay and those who don't want to be left behind should key in immediately and not lag.

Betwrong

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Quote from: rickadone on January 30, 2018, 12:29:28 PM

Sometimes back, I did read that Switzerland railway ticket counters are going to sell bitcoin. But never heard anything after that. But in between time Japan declared bitcoin as a legal payment system. So, there will be no significant impact we can expect what an economic Minister is considering compared to what their government will be declaring about crypto currencies.

I mean to say instead of giving some signal about crypto currency adoption like these, why not they just come out with a clear regulation about crypto currencies because that alone will be giving significant impact to crypto currency industry and also for a better economy growth for their country.

In Switzerland they actually have made it work. You can buy Bitcoin there at any time and at any SBB ticket machine. (SBB stands for Swiss Federal Railways).

Check this out: https://www.sbb.ch/en/station-services/services/further-services/bitcoin.html

So, in fact they are going well beyond mere statements.

rickadone

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Sometimes back, I did read that Switzerland railway ticket counters are going to sell bitcoin. But never heard anything after that. But in between time Japan declared bitcoin as a legal payment system. So, there will be no significant impact we can expect what an economic Minister is considering compared to what their government will be declaring about crypto currencies.

I mean to say instead of giving some signal about crypto currency adoption like these, why not they just come out with a clear regulation about crypto currencies because that alone will be giving significant impact to crypto currency industry and also for a better economy growth for their country.

just_Alice

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Quote from: omonuyak on January 30, 2018, 04:42:35 AM

I read this news at https://www.fxstreet.com/news/swiss-ecomin-switzerland-wants-to-be-a-crypto-nation-201801300630 and its really gladly my heart.
Economy minister Johann Schneider Ammann, Said "Switzerland want to be a crypto nation" as at the time when many developed and developing countries are expressing their negative options on cryptocoin and we are hearing news that many countries want to ban it. What is your take on this move or comments?

You're talking like there isn't much crypto-friendly countries, but I disagree. What about US, England, Japan? Not even talking about Netherlands, where there is city, at which you can actually purchase stuff with bitcoins. Yes, some of them imposed a taxes on BTC, but it should be considered as good news too, because it's an important step towards BTC legalization.

jaredl

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This news of Switzerland wanting to become a crypto nation is great news. It will move crypto currencies into greater credibility when a country adopt cryptocurrencies and mint their own crypto coin too.

However I think the reason for Switzerland to want to mint their own crypto coin is that they want to regain their position as the top destination for keeping money and wealth. They have been losing to a few other countries in terms of attracting wealth.

Creating this crypto is a way for Switzerland to gain a lead before other country mints their own crypto coin.

Will this coin have privacy features?
This is something debatable. If Switzerland wants to attract top dollar into their country, they will have to incorporate privacy features so that the wealthy who wants to keep their wealth private can do so.

But whatever it is, so long countries start recognising the potential of crypto currencies as well as the blockchain, it is a big boost to the crypto community.

Cheesy

ahmad21

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Quote from: omonuyak on January 30, 2018, 04:42:35 AM

I read this news at https://www.fxstreet.com/news/swiss-ecomin-switzerland-wants-to-be-a-crypto-nation-201801300630 and its really gladly my heart.
Economy minister Johann Schneider Ammann, Said "Switzerland want to be a crypto nation" as at the time when many developed and developing countries are expressing their negative options on cryptocoin and we are hearing news that many countries want to ban it. What is your take on this move or comments?

Switzerland by all means have always been a economy friendly economy. In a way that they want to be the nation where the whole world can save their money with. We all know about the old stories of Swiss Banks and how they are used to launder tons of money. But with time now governments from other nations have been objecting upon the idea of the Swiss Bank so now they are going to offer similar solutions with underlying blockchain. If this happens then once again most of the world's money will be saved in Switzerland.

Baofeng

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Quote from: omonuyak on January 30, 2018, 04:42:35 AM

I read this news at https://www.fxstreet.com/news/swiss-ecomin-switzerland-wants-to-be-a-crypto-nation-201801300630 and its really gladly my heart.
Economy minister Johann Schneider Ammann, Said "Switzerland want to be a crypto nation" as at the time when many developed and developing countries are expressing their negative options on cryptocoin and we are hearing news that many countries want to ban it. What is your take on this move or comments?

This is not new. Switzerland has been friendly to crypto. I bet you haven't heard that a school in Switzerland has started to accept bitcoin as tuition fee payment. Though I can't remember if they are the first school to do it.

https://kryptomoney.com/schools-in-switzerland-accepts-tuition-fees-in-bitcoin/

This is really welcoming news because there are a lot of nation who are against bitcoin. At least we have one nation who is very open minded, willing to take the risk and embrace this new technology. Don't worry about those banning bitcoin and cyrpto. They really don't know how it can improved their economy and its not really design to be used by criminals.

untoy17

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Quote from: omonuyak on January 30, 2018, 04:42:35 AM

I read this news at https://www.fxstreet.com/news/swiss-ecomin-switzerland-wants-to-be-a-crypto-nation-201801300630 and its really gladly my heart.
Economy minister Johann Schneider Ammann, Said "Switzerland want to be a crypto nation" as at the time when many developed and developing countries are expressing their negative options on cryptocoin and we are hearing news that many countries want to ban it. What is your take on this move or comments?

I think it is a good news for the citizens in that country. How I wish that in our country, bitcoin will be allowed and will be advertise from media like televisions in radio. I hope that in our country, we support bitcoin so much

Bryan_12

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They are taking the positive that the cryptocurrency market offers, particularly it is good that they are given opportunities to cryptocurrencies, but at the same time they are not going to fully access until there are other governments that also allow it, what happens is that there is a certainty that if they accept it, it will be on their own terms and we will not know to what extent it would become an equal market to that of the currencies.

STT

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Quote from: Lancusters on January 30, 2018, 11:06:23 AM

Quote from: AlexKr on January 30, 2018, 08:31:22 AM

In Belarus, in general, the mining and ICO were legalized and exempted from paying taxes. To attract large IT companies to the country. I hope many people follow the example of this country.
http://www.loc.gov/law/foreign-news/article/belarus-decree-introduces-common-law-principles-and-tax-exempts-mining-of-cryptocurrencies/

Switzerland has always been a country which provided to secure the capital. After the Swiss banks ceased to keep the banking secrecy, the people have ceased to use their services. Probably they realized this and want to reclaim the capital. Belarus is experiencing a famine of investment because of sanctions. They probably want to bypass the sanctions by using the cryptocurrency. It is also logical.

Thats probably a point missed, Switzerland previously had a reputation for very discrete banking. However since world reserve currency became regulated by US government as primary issuer of dollars, it was no longer possible not to reveal personal details on request of accounts normally outside the US system. USA can exclude Switzerland from dollar trade and that would be a far greater loss.
In the past world trade was tied to gold as was the currency of Switzerland, so they have lost that independent standard. Obvious thing would be to create a a crypto similar to the old banking standard with unrevealed details of participants .

They could even regulate it within Switzerland as per the old banking rules they maintained even though crypto should be globally distributed in my ideal scenario not tied to any one place

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