According to a report from local news agency, FinNews, Swiss President Ueli Maurer, recently noted that while establishing regulations for the blockchain sector, the concerned authorities should be fast and clear.
Ueli made those comments at the CV Crypto Valley Summit on Wednesday, March 27 in Zug, only a few days after Swiss Federal Council launched its consultation about important amendments on constitutional laws that would prove helpful to blockchain firms.
Talking about blockchain and some other distributed ledger technologies, President Ueli said that authorities in Switzerland are “constantly looking for ways to stay two steps ahead” of other countries.
To this end, Ueli told the over 1,000 people in the audience at the Crypto Valley Summit, that Switzerland ought to be quick about amending existing laws to support the blockchain technology and that the Federal Department of Finance is also out to help the course.
Moving forward, the report notes that the president also invited crypto and blockchain industry experts to take a bold step by storming the Federal Government with new initiatives. He specifically asserted that the “doors are open” to such efforts.
In other blockchain developments involving Switzerland, Coinfomania reported in the past that Swiss postal service, Swiss Post, in collaboration with state-owned telecom provider Swisscom, will develop a simple, secure, and sustainable infrastructure for blockchain applications in the country.
Also in Sept 2018, we reported that Smart Valor, a blockchain startup founded by Olga Feldmeier in 2017 has received regulatory approval to operate in the local financial market within Switzerland.