The Swiss government has announced the creation of a new group to strengthen its regulatory framework related to blockchain startups and ICOs.
Blockchain task force includes both federal and local officials, as well as members of various blockchain startups and legal representatives and spearheaded by Finance Minister Ueli Mausrer and Economics and Education Minister Johann Schneider-Ammann.
The main task of the group is to watch the legal guidelines of ICOs and blockchain companies, while working with the State Secretariat for International Financial Matters — the federal body responsible for implementing financial market policy and representing the government's financial interests across borders.
Blockchain is becoming more important as a technology for many industries, not just crypto finance. What is needed is liberal regulation, which opens opportunities for Switzerland's position while at the same time reducing risks.
Head of the Department of Economic Affairs, Education and Research
The first meeting of the Blockchain task force will take part on January 12, 2018.
Recently, we have reported that Swiss private bank Falcon is going to offer to its clients a compliant process for investing wealth generated from trading in cryptocurrencies.