Switzerland and Israel join hands in co-regulation on cryptocurrency and Blockchain

Finance Minister Ueli Maurer and Switzerland's General Secretary for International Financial Affairs Joerg Gasser recently visited Israel, aiming to help the country's banks. "to the Israeli market.

Two Swiss and Israeli states have agreed to cooperate in three areas, including financial technology, electronic money and Blockchain rules after their discussions among senior officials, according to a Reuters report.

Gasser said he is preparing a summary report on the methods and factors affecting Blockbuster planning and will submit a number of recommendations at the end of the year in hopes of being approved by the National Assembly in the year. 2019 and new regulations can be enforced the next year - 2020.

In the field of innovation Blockchain, Switzerland, is ready to "extend the arms" to welcome startup companies and researchers from all over the world to the regulatory framework. Their Blockchain friendly. Switzerland is the home of Zug, from a small Alpine town that "swan ducks" into the Blockchain Center, often referred to as the Crypto Valley, is comparable to California's Silicon Valley technology center. The ShapeShift Foundation and the Ethereum Foundation, along with many others, are based in Zug.

While the legal framework is extremely open in Switzerland, this does not take place at the central bank. In July, local organizations were trying to prevent a series of companies from moving to other countries after having difficulty opening a bank account, caused by the central bank's concerns about the operation. Community fundraising.

After the government launched an investigation into the availability of the e-franc, the central bank responded that the crypto technology was not good enough. Alprockz, a Zug Valley startup, is working on stablecoin based on the Swiss franc, stressing that with or without the support of banks, crypto technology continues to evolve.

For example, given the assumption that Swiss regulators are taking more of a view in exchanging their information, Israel remains a major technology hub - home to most of the Intel processors. Bitcoin mining company Bitmain has also announced that it will triple its development center in Western Israel to boost its ASIC output.

Last year, Israeli Prime Minister Benjamin Netanyahu even said that the era of traditional banks in particular and the banking industry in general came to near-complete degeneration and that electronic money was a step A new turning point here:

"Will the fate of banks end? Yes. The answer is yes. Will the name of the banking industry be called tomorrow? And will Bitcoin "save" us? This is still a big question. "