Swiss Blockchain Law: A Game Changer
As of Monday, Switzerland has officially rolled out part one of its groundbreaking blockchain law, sending ripples through the crypto and blockchain communities. This legislation, passed in September 2020, isn’t just a piece of paper; it’s Switzerland’s ticket to solidifying its position as a leader in the digital economy.
The Regulatory Paradigm Shift
According to reports from Swissinfo, this updated regulatory framework is poised to enhance the country’s already thriving blockchain scene. With industry leaders backing these changes, it seems the financial and corporate reforms are receiving rave reviews. As Hans Kuhn of digital bank SEBA puts it:
“The blockchain law establishes Switzerland’s place in the emerging digital economy.”
Crypto Broker AG Joins the Party
On the same day, Crypto Broker AG made headlines by securing its license from the Swiss Financial Market Supervisory Authority (FINMA). This firm, which cleared over $1 billion in trades last year, can now offer tokenized securities. Talk about a glow-up! Crypto Broker AG is in good company, joining the likes of SEBA and Sygnum Bank, who have also secured FINMA licenses.
What’s Next: The Second Act
Looking ahead, part two of the Swiss blockchain law is slated for a summer launch. This phase promises to overhaul the financial market infrastructure, paving the way for a big-league trading environment for crypto securities.
Leading the Global Charge
As Switzerland steps into the limelight alongside Liechtenstein, it’s worth noting how these two nations have approached blockchain regulation. While Liechtenstein opted for a brand-new legal framework, Switzerland has cleverly adapted existing laws to meet the needs of the blockchain and crypto markets. This strategic approach highlights Switzerland’s commitment to promoting digital innovation while offering robust regulations.
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