Switzerland has been approving cryptocurrencies while the world is dising

lesgotty (35)in #switzerland • 4 years ago (edited)

The Swiss Embrace

Beautiful scenery comes to mind when one hears of Switzerland, chocolate of all kinds, caramel tasty snacks and pretzels. This beautiful country is not only political neutral there's massive emphasis on banking privacy known to be a safe haven for master investors and those wishing to safely store their cash and digital assets in safety. The beauty of Switzerland came with its choice to remain sole and keep is swiss franc (CHF) separate from the urozone and the euro noise. This gives the (CHF) so much freedom and as it turned out this freedom had been well explored ever since.

Switzerland is known for its very high standard of living. To keep up with these standards the Swiss economy needs to be very strong and we'll organized. The operations in Switzerland are very close to blockchain operations in that there is little to no room for errors. Once an error occurs the whole block doesn't go anywhere for this reason there is little to no corruption in the country and all the citizens are more than happy with the way things are going.

It is the first country in world for economic productivity and competitiveness. It's no brained why this political neutral country is on top of the financial game, while other countries are busy about gin laws, the Swiss are gifting their new born babies with M16s. It was overheard from the prime minister saying that " it's not the guns, it's the mindset behind the guns". When other countries are busy playing politics, Switzerland is making sure no penny is wasted on politics.

The bitcoin involvement

Bitcoin has been approved as payment for utility bills in Zug, the Swiss Crypto valley, other swiss regions are slowly following suit. Because of some very progressive laws passed by the Crypto valley, there has been a rise in crypto and related businesses some of the big names include Xapo and shapeshift. Surely your business will join the list too.

Ok, for those who want nothing to do with taxes this beautiful country might not be the one as it has passed wonderful laws on taxation of bitcoin gains but no mention of other cryptocurrencies. The taxation is on any salaries earned in crypto even if self employed, this also goes for offset for losses encountered by professional traders.

The Swiss economic minister proclaimed (January 2008) Switzerland's intentions on becoming a major crypto nation and today (2020) Switzerland is considered by many to be crypto tax haven. Although no licences have been issued for buying and selling bitcoin, Bitcoin companies must comply with the Swiss anti money laundering (maybe something other countries should do instead of cracking down on cryptocurrencies)

The Swiss bank has offered Bitcoin mini futures on the Swiss stock market exchange back in 2017.
Falcon private bank, a boutique investment firm has been buying and storing bitcoin for its high net worth clients since 2017.
Also back in December of 2017 the Swiss online bank, Swissquote has launched a financial product which allows user to allocate holding between Bitcoin and the USD.
Multiple banks have been authorised by the Swiss financial market supervisory authority to offer cryptocurrencies services including trading and custody.

Conclusion
Switzerland is one of the best countries to be in that has recognised cryptocurrencies for the value they bring to this world. If you are not merely making a living from cryptocurrencies, the Swiss have you a safe haven.

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