The president of the Swiss Confederation, which is equivalent to the country’s executive branch, and also the country’s finance minister, Ueli Maurer, made positive comments on the new blockchain regulation put in public consultation by the Federal Council of the Country during a lecture held at the CV Summit held in Zug, Switzerland, on Wednesday (March 27). For him, the changes must be fast and clear.
The recently launched consultation process proposes changes to the country’s federal law. The objective is to improve the legal status of blockchain and cryptocurrencies. In addition, the minister confirmed that the Federal Council intends to continue developing the subject. Therefore, the country wants to be ahead when it comes to cryptocurrencies and blockchain.
Among the adjustments proposed in the law are the regulation of companies in the sector under the country’s debt and bankruptcy law. The proposal also includes the creation of a new category of legal authorization for companies in the sector, according to the Swiss news agency Finews.
This is not the first time Switzerland’s finance minister has shown positive support for blockchain companies. In December last year, Maurer suggested that Switzerland modify its existing legal framework to better embrace the technology.
The support of the minister to blockchain companies is positive news. Especially because we are talking about a country that has a strong financial vocation. Switzerland can serve as an example for other European countries in crypto regulation. And provide a great adoption of everything related to this market.