Crypto Laws In Switzerland: What Makes This Country Special?

In our latest cryptocurrency news, we are giving a full answer to the question ‘What makes Switzerland one of the best countries for crypto investors and businesses?’ with detailed notes on the crypto laws and regulation in this country.

For those of you who did not know, cryptocurrencies and exchanges are legal in the country. In fact, the country adopted a remarkably progressive stance towards cryptocurrency regulations. As the Swiss Federal Tax Administration (SFTA) shows, cryptocurrencies are seen as assets in this country: they are subject to the Swiss wealth tax and must be declared on annual tax returns.

When it comes to exchanges, the crypto laws in Switzerland show that the country imposes a registration process on cryptocurrency exchanges – they must obtain a license from the  Swiss Financial Market Supervisory Authority(FINMA) in order to operate. When it comes to ICOs, there are regulations in place for them too – February 2018, FINMA published a set of guidelines for initial coin offerings across a range of areas. The areas included ICOs present in banking, securities, collective investment schemes and many others.

In the future, Switzerland is seen to have even better crypto laws. The country’s government has indicated that it will continue to work towards a regulatory environment which is very friendly to cryptocurrencies.

One of the hotspots of this industry and crypto laws in Switzerland is the town of Zug. As many best cryptocurrency news sites reported, this town introduced Bitcoin as a way of paying city fees – making it the first initiative of that kind. In January 2018, the Swiss Economics Minister Johann Schneider-Ammann said that he was aiming to make Switzerland a “crypto nation.”

Meanwhile, the Swiss Secretary for International Finance, Jorg Gasser, has emphasized a clear need to promote cryptocurrencies and build crypto laws which do not compromise the existing financial standards.

All of this makes Switzerland a heaven for crypto laws – and one of the pioneering countries with such initiatives. The most important part is that this country is seen as one of the most financially stable countries in the world – hence the importance of such crypto laws in the European market.