Crypto community rejoices as Switzerland gains a new crypto advocate as President

07 Jan, 2019
by Colin Hawkins
Crypto community rejoices as Switzerland gains a new crypto advocate as President

Serving as a finance minister for one of the most influential and crypto friendly nations over the past couple of years, Ueli Maurer, is now graduating from finance minister and stepping in to his role as President of the Swiss Federation.

This move is being accepted well by the crypto community, and rightfully so. Maurer has been around during the beginning of countless positive developments in the crypto world, during his time serving as the finance minister.

The Swiss government’s liberal use of blockchain regulations are some of the many reasons why more and more successful blockchain startups are setting up shop in the country. The country’s latest announcement about distributed ledger technology, includes a new strategy for integrating crypto moreso into Switzerland’s economic plan.

A group of individuals that make up blockchain industry stakeholders was formed last year to further gain control of emerging technologies. This blockchain task force is set to handle the hurdles in the Swiss financial economy. One hurdle in particular, which was previously highlighted by President Maurer, is the reluctance of Swiss banks to service crypto businesses and exchanges. This has been an ongoing issue in the crypto industry and a deciding factor for companies to move to more welcoming jurisdictions.

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