The consultation on blockchain laws will happen among cantons, parties, and other interested groups in this space. It is scheduled to continue for more than three months, ending on Feb. 2, 2021. This is a part of the Swiss government’s active interest in promoting blockchain and cryptocurrency. The consultation to create better laws for the blockchain industry comes only a month after the government amended several existing finance and corporate laws to incorporate provisions for blockchain technology and DLT. Blockchain startups worldwide also seek coworking space to run their operations smoothly.
Swiss government takes an active interest in promoting blockchain and crypto.
This is a part of the Swiss government’s active interest in promoting blockchain and cryptocurrency. The consultation to create better laws for the blockchain industry comes only a month after the government amended several existing finance and corporate laws to incorporate provisions for blockchain technology and DLT. According to the official announcement, the amendments to the existing laws have improved Switzerland’s regulatory framework. The country is now more aligned to promote blockchain and DLT innovation.
Federal Council aims to put these laws into force starting in August 2021.
The blanket ordinance will help the Swiss government incorporate these amendments into laws at the federal ordinance level, and the Federal Council aims to put these laws into force starting in August 2021. Switzerland’s support for blockchain and cryptocurrency companies has resulted in many companies worldwide setting up headquarters there. The country hosts more than 900 blockchain companies that employ over 4,700 people.
The adoption of blockchain and cryptocurrencies by the Swiss government is such that Zug’s Swiss canton, also known as the “Crypto Valley,” now allows its residents to pay taxes in Bitcoin and Ether.
