In the latest news about regulation, the minister for finance in Switzerland, Ueli Maurer, recently visited Israel along with the State Secretary for International Financial Matters, Joerg Gasser – to discuss about potential partnership between the two countries.
In a nutshell, the minister’s goal is to gain bank access to Israeli markets and allow Swiss banks to trade there. As Reuters reported, the two nations are now officially in an agreement to collaborate on financial technology, cryptocurrency and blockchain regulation following the discussions in Israel.
Meanwhile, Gasser confirmed the rumors that he was preparing a set of blockchain regulation methods and factors. As he said, this set of regulation methods will be live by the end of the year – with a goal for the parliament to approve them in 2019.
With this, Switzerland again confirmed its positive stance towards cryptocurrencies – especially towards startups and researchers who are willing to get blockchain-friendly regulation. The country is also a home to Zug, which is a small Alpine town that has turned into a blockchain hub, referred to as Crypto Valley in a nod to California’s Silicon Valley tech hub.
However, organizations in Switzerland still have difficulties in opening bank accounts over the central bank concerns regarding the opaque nature of crypto-crowdfunding. Israel, on the other hand, is also looking forward to a new change. As the Prime Minister Benjamin Netanyahu last year added:
“Is the fate of banks that they will eventually disappear? Yes. The answer is Yes. Does it need to happen tomorrow? And do we need to do it through Bitcoin? That’s a question mark.”
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post