Cryptocurrencies and associated technologies are welcomed by the Swiss.

Author: Alberto Giordano

Many countries are debating whether to allow cryptocurrencies. Not the Swiss. In December, the Swiss Federal Council published guidelines to promote the expansion of cryptocurrencies and blockchain, calling them “remarkable and potentially promising” developments that “are predicted to have considerable … potential for innovation and increased efficiency.”

The guidelines, titled “Legal framework for distributed ledger technology and blockchain in Switzerland,” recommend adjusting existing laws to accommodate companies in the blockchain and cryptocurrency space, rather than writing a new set of laws.

Said legal adjustments should focus on enhancing Switzerland’s position as a blockchain-friendly country, the Council concluded.