The Swiss are one of the most resistant nations when it comes to new currencies, especially virtual ones. However, that showed as false when it comes to the culture of cryptocurrencies. Apparently, Switzerland has embraced the culture of cryptocurrencies as reported in the FT.
The country can also become the new Crypto Valley which is a version of the Silicon Valley located in the canton of Zug and filled with blockchain companies. There are already many established companies there and as the Swiss Economics Minister Johann Schneider-Ammann said, the country’s goal is to become a “crypto nation”.
The attractive location and a nice environment have made Switzerland an attractive domicile for companies. Another benefit is the business-friendly regulatory environment and transparency that has created ideal conditions for many blockchain startups in the field.
In Bern, there is an ICO working group that is created to study the role regulation. The Swiss Finance Minister Jorg Gasser said that the market needs to become more ‘disciplined’. Also, he noted that the country must work towards establishing a ‘flourishing’ ICO market – however – not at the expense of the country’s standards and integrity.
The appeal of Switzerland is more than clear and a lot of wealthy investors have confirmed that, investing in high-quality tech talent. On the other hand, the demand for upcoming ICOs is persisting into 2018 and the Crypto Valley trade is getting more and more popular.
Did you know that in the top 10 upcoming ICOs, even 40% are domiciled in Switzerland?
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