Johann Schneider-Ammann, who served because the President of Switzerland in 2019, just lately joined the board of Crypto Valley Venture Capital, or CV VC. CV VC is a inauguration that invests in crypto companies roughly Zug, Switzerland, the "crypto valley" of the namesake agency.
Corresponding with Cointelegraph, Schneider-Ammann attributable CV VC with creating "its own ecosystem," even so detected blockchain as a significant factor Switzerland's future:
"I am fascinated by the potential of this new technology and I am convinced that this gives us in Switzerland a unique chance to become a drawing card in the technology of the future."
Beyond the crypto valley
Switzerland is understood inside the crypto neighborhood for its hospitable system of regulation, with native guard dog Finma among the many most progressive on the planet. Schneider-Ammann defined some great benefits of the Swiss system to Cointelegraph:
"The flexible Swiss legal system allows existing, abstractly developed laws to be applied to new challenges with little effort."
The description sure as shot resembles goals written just lately by the top of a serious United States regulator. As an instance, Schneider-Ammann pointed to Switzerland's relationship to preliminary coin choices (ICOs) - a contentious topic in much of the remainder of the world. He defined that Switzerland, by issuance steering in 2019, "became one of the first regime to formalise this process."
Change in recent times
Shneider-Ammann far-famed a serious improve in crypto exercise since his period as president:
"Over the last six years, a unique ecosystem of over 800 companies has developed around the Zug hotspot in Switzerland, dealing with Distributed Ledger Technology (DLT) or Blockchain."
Such heavy hitters as Facebook have picked Switzerland because the place to launch crypto initiatives - of their case, Libra, much to the chagrin of U.S. regulators.
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