FT: Switzerland embraces cryptocurrency culture

In other countries, politicians express concern about the cryptocurrency craze, citing worries about security, regulation, volatility and a speculative bubble. Not in Switzerland. The affluent Alpine country wanted “to be the crypto-nation”, Johann Schneider-Ammann, economics minister, told journalists as he arrived for a private crypto finance conference in St Moritz last week.

Of the 10 biggest proposed initial coin offerings — by which start-ups raise funds by selling tokens — four have used Switzerland as a base, according to PwC. The burgeoning ICO industry is burnishing Switzerland’s business friendly reputation and sometimes buccaneering spirit — a reputation spoilt by the past decade’s scandals over the help its traditional private banks gave to wealthy clients in evading tax. But it has created a dilemma for Swiss politicians and regulators: just how far should they go in encouraging a digital “wild west”?

Read the full article

Related Posts

Previous Post
Broadridge launches ROQ for automated repo markets trading
Next Post
Hanweck introduces “Borrow Intensity Indicator” for securities lending markets

Fill out this field
Fill out this field
Please enter a valid email address.

X

Reset password

Create an account