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Switzerland looks to boost blockchain and crypto adoption in 2021

 
Switzerland looks to boost blockchain and crypto adoption in 2021
Breaking News / Blockchain

Quick take

1 minute read

  • The federal Department of finance in Switzerland has recently initiated a consultation process for a total ordinance in the cryptocurrency and blockchain industry.
  • This consultation will involve cantons, parties and other interested individuals and organisations that are wanting to know more about the industry. 

The federal Department of finance in Switzerland has recently initiated a consultation process for a total ordinance in the cryptocurrency and blockchain industry.

This consultation will involve cantons, parties and other interested individuals and organisations that are wanting to know more about the industry. However, this isn’t scheduled until the 2nd of February 2021.

This is a part of the movement in Switzerland to help promote cryptocurrency and blockchain to a bigger audience. The active interest that the government in the country has in this nascent industry is interesting to say the least and by encouraging more people to get involved and it could prove beneficial in the future. 

The consultation will help create better laws for blockchain and will come only one month after laws in the corporate sector will have been amended by the government. These also help incorporate provisions for blockchain technology and distributed ledger technology.

According to an announcement, these changes and amendments to the current laws have already had a big impact on the regulatory framework in Switzerland. Not only is the country more well suited for promoting blockchain but distributed ledger technology as well.

This new move will further help the leaders of the country incorporate these changes into law at a federal level.

The support that Switzerland has had for the industry has been big to say the least. With this new move, it will probably result in more companies from all over the globe setting up headquarters in the country.

It’s only looking up from here!



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