Bitcoin (BTCUSD)

[Investors3]

I agree with you, that it has been awhile for Switzerland to make an announcement...some of the message (#18303) that I replied to, is below:
When I have time, I try and reply to previous messages that talk about the same country, institutional investor, or subject matter...

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=160593333

2020’s 5 countries friendliest to crypto and blockchain
December 30 2020 - 02:50PM
Cointelegraph

Switzerland (canton of Zug)

Zug, the small administrative area that has become known as the “Crypto Valley” of Switzerland, is certainly living up to that moniker. Home to around 120,000 people, the canton is also regarded as a stronghold for businesses due to its status as a tax haven, with one of the lowest tax rates in Switzerland. The area is a technology hub, specializing in medical development and the production of electronic components.

The Swiss Community website also notes that wholesale trade is another major industry in the canton of Zug, with a heavy focus on commodities. As a result, the area has attracted big corporations, financial service providers, as well as IT, architectural and engineering firms.

Zug’s moniker as the “Crypto Valley” of Switzerland is primarily due to the Crypto Valley Association’s formal establishment in the region in 2017. The organization has played its part in driving the adoption of cryptocurrencies and blockchain technology in Switzerland.

In September 2020, it was announced that residents of Zug would be able to pay taxes using cryptocurrencies, starting in February 2021. Companies and individuals will be able to pay up to 100,000 Swiss francs ($111,258) of their tax liability in cryptocurrency, with local cryptocurrency exchange Bitcoin Suisse AG facilitating the exchange to fiat currency and its transfer to the government.

On a macro level, Switzerland’s parliament adopted important financial and corporate law reforms in September 2020 that incorporated new legal frameworks for the cryptocurrency and blockchain space.

The laws included guidelines for the exchange of digital securities as well as legal processes for reclaiming digital assets from companies that file for bankruptcy. Legal requirements for cryptocurrency exchanges were also outlined — primarily focusing on introducing AML and KYC rules in an effort to reduce money laundering using cryptocurrencies.

Following that, the Swiss Federal Department of Finance began a public consultation on a proposed blanket ordinance that will take these legislative amendments into law on a federal level. Various Swiss cantons, businesses and parties involved in the blockchain space will be consulted up until February 2021. It’s envisaged that these amendments will then be enforced on a federal level in August 2021.

All of this work in 2020 has laid a strong foundation for the cryptocurrency and blockchain space to continue to thrive in Switzerland for years to come. According to Swiss Info, there are over 900 blockchains and cryptocurrencies operating in Switzerland, supporting around 4,700 jobs.