As one of the countries that are very open to adopting new technologies, Switzerland has taken another important step. Switzerland made a move to recognize the blockchain industry.
Switzerland recognizes blockchain and cryptocurrencies
Blockchain industry and cryptocurrencies are frequently regulated by countries today. Especially the European Union countries have intensified their examinations in this area in recent years.
However, Switzerland, which is open to innovations in this regard, has taken an important step for the blockchain industry. The Swiss parliament has approved the legal amendment that recognizes blockchain and cryptocurrencies. Thus, this industry was officially approved by Switzerland.
The new law passed clearly defines the exchange of digital assets. However, it defines the requirements in a way that minimizes the risk of using crypto coins in money laundering activities.
Before this legal regulation, Switzerland took a moderate approach to blockchain and cryptocurrencies. Libra, which employs approximately 4,700 people, and Switzerland, which hosts blockchain and cryptocurrency companies with gas from 900, will now be able to legally see the future in this industry more clearly. The fact that enterprises and companies are also legally protected will further facilitate the development of this industry in Switzerland.