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Swiss Looking for an Upgrade in Regulation Scheme Regarding Blockchain Technology

Swiss Looking for an Upgrade in Regulation Scheme Regarding Blockchain Technology

  • The Federal Council of Switzerland is looking for an upgrade in the Regulation Scheme for Blockchain technology and Distributed Ledger Technology (DLT).
  • An official announcement regarding this was made on November 27, 2019, prioritizing the motion of upgrading of Blockchain and DLT Regulation schemes.
  • According to the official announcement, the Swiss parliament will be making its official check on the proposal by early 2020.

The Federal Council of Switzerland made an official announcement, promising the people of their country that they will be prioritizing the need for up-gradation in the field of the regulation scheme of Blockchain and DLT.

They will be aiming to propose a way through which all barriers against Blockchain Technology could be removed single-handedly and will provide users a risk-free and transparent trading environment.

The council had already filled a report regarding this in the later months of 2018 and will be trying to hold on to that.

According to the official announcement, the Swiss parliament will be making its official check on the proposal by early 2020.

Switzerland: a healthy environment for Digital assets

Switzerland has always been open to accepting Different digital assets and Blockchain technologies.

In September of this year, when the release of Facebook’s digital currency was announced, Swiss’s Director of Finance comment that this coin will be happily accepted in the countries existing framework and accepted the coin with an open heart.

According to a report made by the Crypto Valley Venture Capital, Switzerland is doing great in the field of digital currency and Blockchain technology which is also helping in boosting the country’s economy and is creating a lot more jobs for the citizens of the country.

Facts regarding Swiss’s Blockchain Framework

According to the official data, Switzerland contains a circle of about 800 entities. These 800 entities create about 4000-5000 jobs for the citizens of the country.

And apart from that country is also supportive of startups and currents the valuation of startups in the country is more than 1 billion USD. These things help to give a boost to the Swiss economy.

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About Anurag Agarwal

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Anurag Agarwal is a writer for Thecoinrepublic. He is pursuant of B.tech in biotechnology from M.I.E.T Meerut, who's passion is to read and express through the medium of words. He is contributing the regular in-depth analysis of News and updates.

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