We know that China already banned Cryptocurrency exchange and ICO. Still, China is looking for implement more strict laws against Cryptocurrency. China is undoubtedly the number one warrior against Bitcoin and Cryptocurrency in general. After China, Lots of countries voiced their concern against crypto.
After Chinese Dilemma, haters of Cryptocurrency rallies together and form a hate group. Already spread negative news about cryptocurrency. JP Morgan CEO famously denounces as "Bitcoin is a fraud". After his remarks market falls for a day. After that market regains its position and Bitcoin reaches its all-time high price.
When Every global regulatory body is against Bitcoin or Cryptocurrency, Switzerland takes a different path. Rather than cracking down, They decided to encourage bitcoin by issuing a guideline for Initial coin offerings.
As like in other countries, We have seen Sharp Cryptocurrency growth in Switzerland. Number of ICOs will be launched soon. Swiss Financial market authority decided to formulate rules and regulation to conduct ICOs.
“The application of blockchain technology has innovative potential within and far beyond the financial markets. However, blockchain-based projects conducted analogously to regulated activities cannot simply circumvent the tried and tested regulatory framework,” FINMA chief executive Mark Branson Source
Source
What do you think of Switzerland decision to encourage Cryptocurrency? Do you think that other countries should follow Switzerland decision especially China ;)
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every country have to accept bitcoin in future
This is inevitable
I thought Switzerland was the blockchain capital of the world? Australia is pretty crypto friendly too :)
Yes, till now Australia is Crypto friendly.
Well, look at Switzerland's economy. They must be doing something good. Embracing crypto is what a forward thinking country should do.
Government of Switzerland is Potential.
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Well.. what switzerland did was just looking at what crypto is and, in spite of its dangers, they saw its potential. Also, switzerland has already regulated foreign currencies, there is no need for a lot of new laws or the like anyway.
FYI: Switzerlands flag is a red Square with a white cross in the Center, not a rectangle with a cross just somewhere on it...
Congrats to the Swiss government. I think that Switzerland is going to grow technologically far more than other countries because they will have a big jump in blockchain knowledge. Who knows, maybe they will implement it into banks so that their people will not get frauds put upon them.