Switzerland Embracing Cryptocurrencies

Unlike many other countries who are trying to regulate and even ban digital assets, Switzerland is embracing it. Many countries have been flocking to Switzerland and launching their crypto trading exchanges. They are home to the Crypto Valley and are considered the “Swiss Silicon Valley”. Blockchain companies have populated the country and now Switzerland is looking to be a leader of all things crypto. Not only is Switzerland accepting companies with open arms, but they are business friendly, transparent, and tax friendly. However, there will always be skeptics. Swiss Finance Minister, Jorg Gasser, shared his feelings in that he thinks the Swiss market is not as “disciplined” as the government would like it to be. All in all, authoritarians of the Swiss market will not allow the pendulum to go too far to one side as the government does follow regulations KYL and AML. Swiss ICOs have raised $550 million from January to October 2017 in comparison to $580 million in the U.S. market. These are the top two countries for digital asset sales. In total, ICOs last year have accumulated $4 billion.

The Swiss market is in heavy demand as upcoming ICOs in 2018 are growing. Crypto Valley is receiving around 10 inquires per day in regards to launchin ICOs. These companies and investors have seen the success of other companies that have penetrated Switzerland. Sirin Labs, an Israeli startup that joined forces with the Swiss, have raised $157 million during their ICO. A competitor to the Swiss market is the Gibraltar Stock Exchange, in Gibraltar.

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