It seems that Switzerland, the undisputed leader in the financial and offshore sectors, is taking steps to establish rules on cryptocurrency. According to a press release dated March 20, 2019, the Swiss government authorities are engaged in cryptoregulation.
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Switzerland’s legislative powers called on the executive to "adapt the provisions on the procedural instruments of judicial and administrative bodies so that they can also be applied to cryptocurrencies".
In the proposal put forward by member of the legislature Giovanni Merlini, the Federal Council is charged with adapting the existing provisions concerning the procedural documents of judicial and administrative bodies so that they can also apply to cryptocurrencies. The board approved the proposal.
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The legislation should determine how to reduce the risks associated with cryptocurrencies, as well as the status of organizations managing tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details cryptocurrency platforms relative to financial intermediaries.
Swiss parliament begins to regulate cryptocurrency. Other points mentioned in the press release are the need to study whether crypto-exchanges should be subject to the same regulation as financial intermediaries, in which case they will have to go through a proper procedure with the Swiss SEC.
Editor: Yuliya Soroka