For over a century now, Switzerland has functioned as Europe’s financial heart. Long famed for its banking elite and status as a globally renowned tax haven, it is home to some of the most powerful monetary institutions in the world.   Among these are not only banks and investment firms, but cryptocurrency and blockchain startups too. Drawn by the nation’s banking prowess, low taxes, elite universities, and the Swiss brand itself, …
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Switzerland has proven to be a prominent region for blockchain and cryptocurrencies. That situation may come to change soon, following some new AML guidelines. It is evident that authorities are concerned about cryptocurrencies. More AML Restrictions in Switzerland This is especially apparent when it comes to money laundering and tax evasion. FINMA, the Swiss Financial Market Supervisory Authority, has come up with new guidelines. They are primarily interested in transactions …
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It seems not all countries have given up on the idea of creating their own national cryptocurrencies. For Switzerland, the current plan of action involves looking into a state-backed “e-franc”. The Swiss government may commission a report on the risks and opportunities associated with launching such a cryptocurrency in the future. The Swiss E-Franc Plan Over the past few years, various countries and central banks have made it clear that they are …
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