Crypto haven countries #3: Switzerland
It is not part of the European Union (EU) and its largest city is Zürich. Switzerland has four main linguistic and cultural regions (German, French, Italian and Romansh) and ranks highly in terms of quality of life, economic competitiveness and human development.
In September 2020 the Swiss Senate has approved legislation making it easier to use cryptocurrencies and DeFi. The new laws have enabled companies to create digital shares and other tradable assets.
The so called Blockchain Act was enforced on Aug. 1, 2021 and suitably amended the country’s securities law to provide a legal basis for trading cryptocurrencies. Switzerland became one of the first countries in the world to enact legal regulations for Blockchain technology. This creates legal certainty and enables innovation and growth. Today Switzerland is one of the most advanced financial centres in the Fintech and Blockchain sector with over 1000 companies and innovation-friendly framework conditions. The current legislation that stimulates investments in the cryptographic sector and the Swiss high economic competitiveness have facilitated the creation of relevant crypto realities in the country. A lot of foundations which govern leading Blockchain platforms such as Ethereum, Cardano, and Tezos are based in Switzerland, alongside crypto banks Seba and Sygnum. Vontobel bank even offers futures on the Swiss stock exchange.
Worth mentioning is the so-called Crypto Valley in the Canton of Zug, which began accepting Bitcoin payments for municipal services in 2016. Every year the Crypto Valley Conference is held, with:
— 40+ presentations from global industry leaders
— topics on technology, economy & finance and legal & regulation
— top selection of research papers being presented in the academy track
— attendees from start-ups, corporate, academia and governments
— companies showcasing their latest products and services as part of the gold sponsorship
— panel discussions challenging opinions live on stage
— legendary conference party and master classes
The other reality to mention in Switzerland is the city of Lugano, in the Canton of Ticino, the Italian-speaking region of Switzerland. On March 3, 2022, in partnership with Tether Operations Limited, Lugano launched the initiative Plan B.
The goal is to encourage the adoption of BTC, Tether and the LVGA token for shops and businesses, using them as legal tender. Lugano has the blessing of the Swiss financial regulator to allow Bitcoin, Tether and LVGA payments for taxes and municipal services. LVGA is the official local payment token of the City of Lugano. It can be managed within a digital wallet inside the MyLugano App.
Furthermore in Lugano McDonald’s accepts Bitcoin payments since the beginning of October 2022.
Searching on the internet I found the website of Blockchain Hub Switzerland, where it is possible to be 100% assisted on how to start your business, founding your company, finding your staff, supporting crypto startups and organize value-generating events.
A winner is a dreamer who never gives up.
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Disclaimer: Trading cryptocurrencies carries a high level of risk and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives and your level of experience. Do Your Own Research. All opinions expressed here are owned by the respective writer and should never be considered as financial advice in any form.
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