Home Coins Ethereum (ETH) Swiss gov’t starts consultation process for blockchain laws

Swiss gov’t starts consultation process for blockchain laws

Switzerland’s Federal Department of Finance has initiated a consultation process for a blanket ordinance in the blockchain and distributed ledger technology space. 

The consultation will happen among cantons, parties and other interested groups in this space. It is scheduled to continue for more than three months, ending on Feb. 2, 2021.

This is a part of the Swiss government’s active interest in promoting blockchain and cryptocurrency. The consultation to create better laws for the blockchain industry comes only a month after the government amended several existing finance and corporate laws to incorporate provisions for blockchain technology and DLT.

According to an official announcement, the amendments to the existing laws have improved the regulatory framework for Switzerland. The country is now more aligned to promote blockchain and DLT innovation.

The blanket ordinance will help the government incorporate these amendments into laws at the federal ordinance level, and the Federal Council aims to put these laws into force starting in August 2021.

Switzerland’s support for blockchain and cryptocurrency companies has resulted in many firms from across the world setting up headquarters in the country, which hosts more than 900 blockchain companies that employ over 4,700 people.

The adoption of blockchain and cryptocurrencies by the Swiss government is such that the Swiss canton of Zug, also known as the “Crypto Valley,” now allows its residents to pay taxes in Bitcoin (BTC) and Ether (ETH). Even the government-run bank Basler Kantonalbank was reported to be planning to launch cryptocurrency services.

Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
472FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,550FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.19
GBP
1.33
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.77
AUD
0.74

Most Popular

Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi

The PlusToken controversy, which has led to the arrest of 109 individuals so far, has also reportedly resulted in a titanic seizure of crypto...

Bloomberg lists 5 bullish trends for Bitcoin price despite ‘Thanksgiving crash’

Bitcoin (BTC) continues to convert some of its harshest traditional critics from mainstream finance as Bloomberg admits that this bull run is nothing...

3 Years In The Blink Of An Eye: The Ontology Story So Far | by The Ontology Team | OntologyNetwork | Nov, 2020

A recap of everything that has happened so far…and of what’s to come.3 years can feel like an eternity at a time of relative...
bitcoin
Bitcoin (BTC) $ 17,015.88
ethereum
Ethereum (ETH) $ 513.52
ripple
XRP (XRP) $ 0.541911
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 265.75
bitcoin-cash-sv
Bitcoin SV (BSV) $ 161.62
litecoin
Litecoin (LTC) $ 69.10
eos
EOS (EOS) $ 2.87
binancecoin
Binance Coin (BNB) $ 28.09
okb
OKB (OKB) $ 5.23
tezos
Tezos (XTZ) $ 2.27
leo-token
LEO Token (LEO) $ 1.33
cardano
Cardano (ADA) $ 0.137318
monero
Monero (XMR) $ 116.22
stellar
Stellar (XLM) $ 0.191215
chainlink
Chainlink (LINK) $ 12.37
huobi-token
Huobi Token (HT) $ 4.05
tron
TRON (TRX) $ 0.028901
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 90.64
neo
NEO (NEO) $ 16.90
iota
IOTA (MIOTA) $ 0.306199
nem
NEM (XEM) $ 0.166317
zcash
Zcash (ZEC) $ 68.52
maker
Maker (MKR) $ 521.44
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 6.18
vechain
VeChain (VET) $ 0.014336
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 3.92
kucoin-shares
KuCoin Shares (KCS) $ 0.795611
waves
Waves (WAVES) $ 6.71