{"id":1631,"date":"2016-11-03T12:42:12","date_gmt":"2016-11-03T12:42:12","guid":{"rendered":"https:\/\/blog.holytransaction.com\/?p=1631"},"modified":"2020-11-09T06:13:28","modified_gmt":"2020-11-09T04:13:28","slug":"switzerland-bitcoin-regulation","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/11\/switzerland-bitcoin-regulation.html","title":{"rendered":"Switzerland Bitcoin Regulation will arrive next year"},"content":{"rendered":"<p>Switzerland Bitcoin Regulation might arrive next year.<\/p>\n<p>Recently its national railway service &#8220;have jumped on the bitcoin bandwagon&#8221;, <a href=\"http:\/\/www.coindesk.com\/swiss-railway-service-sell-bitcoin-ticket-kiosks\/\" target=\"_blank\" rel=\"noopener noreferrer\">as explained by Coindesk,<\/a> so now it&#8217;s time for Switzerland to start regulating fintech and digital currency.<\/p>\n<p>A few days after the Swiss railway-related announcement, as SBB decided to sell bitcoin through its network of ticket kiosks &#8211; the <strong>Federal Department of Finance<\/strong> (FDF) announced its <a href=\"https:\/\/www.efd.admin.ch\/efd\/en\/home\/dokumentation\/nsb-news_list.msg-id-64356.html\" target=\"_blank\" rel=\"noopener noreferrer\">plans to regulate fintech<\/a>\u00a0with the goal of introducing a <strong>new regulation next year<\/strong>.<\/p>\n<p>Key elements include plans for a new kind of license geared specifically toward fintech companies and a so-called regulatory \u201csandbox\u201d for experimental firms. Under the proposed regime, the Financial Market Supervisory Authority would become the primary regulator of fintech firms working in Switzerland.<\/p>\n<p>In a press release, the FDF explained that it will guide more researches about bitcoin and other digital currencies and it will study the distributed ledger\u00a0broader applications .<\/p>\n<p>The company explained:<\/p>\n<blockquote>\n<p style=\"text-align: center;\"><em>\u201cThe FDF should conduct additional clarifications in cooperation with the interested authorities on reducing further barriers to market entry for fintech firms, also those outside financial market law (e.g. legal treatment of virtual currencies and assets).\u201d<\/em><\/p>\n<\/blockquote>\n<p>During a recent speech, <strong>Ueli Maurer<\/strong>, Swiss Finance Minister, commented that the proposed Switzerland Bitcoin regulation would help to <strong>attract more brands<\/strong> \u2013 even if the nation positive attitude has already attracted the attention of several blockchain-related startups to make their home in the country.<\/p>\n<p><em>&#8220;We assume that with the steps we have prepared and the commitment we have to the overall financial services industry we can provide a solution that puts us among the top (countries) in the world that regulate this,&#8221;<\/em> he explained.<\/p>\n<p>Read more here about the <a href=\"https:\/\/holytransaction.com\/blog\/?s=swiss&amp;submit=Search\">Switzerland involvement in the fintech sector.\u00a0<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1632\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/11\/switzerland-hero-300x197.jpg\" alt=\"&lt;img src=&quot;\/images\/SwitzerlandBitcoinRegulation.jpg&quot; alt=&quot;Switzerland Bitcoin Regulation&quot; height=&quot;264&quot; width=&quot;350&quot; \/&gt;\" width=\"425\" height=\"279\" srcset=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/11\/switzerland-hero-300x197.jpg 300w, https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/11\/switzerland-hero.jpg 655w\" sizes=\"(max-width: 425px) 100vw, 425px\" \/><\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Switzerland Bitcoin Regulation might arrive next year. Recently its national railway service &#8220;have jumped on the bitcoin bandwagon&#8221;, as explained by Coindesk, so now it&#8217;s time for Switzerland to start regulating fintech and digital currency. A few days after the Swiss railway-related announcement, as SBB decided to sell bitcoin through its network of ticket kiosks [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":1632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76,83,101,191,468,542],"tags":[764,793,968,1201,1270,1271],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Switzerland Bitcoin Regulation will arrive next year -<\/title>\n<meta name=\"description\" content=\"Switzerland Bitcoin Regulation has been proposed in the country and might be applied next year for fintech companies and all the cryptocurrencies.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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