Switzerland Becomes a Crypto Nation With a Affluent ICO Market

Switzerland Becomes a Crypto Nation With a Affluent ICO Market

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February 19, 2018 by Bitzamp
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Switzerland Becomes a Crypto Nation With a Affluent ICO Market Since 1934, Swiss bankers and regulators have resisted the efforts of foreign tax regulators, including the Internal Revenue Service (IRS) in the United States, to obtain information on the secrecy of Swiss bank accounts. Switzerland has long been a global center for the wealth management
Bitzamp

Switzerland Becomes a Crypto Nation With a Affluent ICO Market
Since 1934, Swiss bankers and regulators have resisted the efforts of foreign tax regulators, including the Internal Revenue Service (IRS) in the United States, to obtain information on the secrecy of Swiss bank accounts. Switzerland has long been a global center for the wealth management industry, home to nearly $ 2 trillion, or 27% of global offshore wealth. They claimed the respect of Swiss law and the need to protect the privacy of their customers, because bankers have earned the wealth of US taxpayers from the United States to Switzerland in all areas of creativity. From the shores of the world, to the death of diamonds, by contributing to Swiss bankers.

After giving birth to their famous bank secrecy laws with a nudge from the US Department of Justice and the IRS Criminal Investigation Division (IRS-CI), which closed the oldest private bank and slapped the biggest Swiss banks. With trillions of fines for tax evasion, Switzerland was on the brink of losing its competitive edge in rival capital markets.

But do not count Switzerland yet. The creation of the Observatory of Financial Markets of the Crypto Valley, Switzerland displayed as one of the main systems in the world for crypto, blockchain and ledger technologies distributed, “says Oliver Bussmann, founder of the Crypto Valley Association Johann Schneider-Ammann , head of the Swiss Department of Economic Affairs, stresses that the country is becoming a “crypto-nation” for the digital revolution with a flourishing coin offering (ICO).

Blocking the blockchain, where the participants invest fiat and receive plans of the “tokens” or digital assets in return. A person, a project or a business needs capital created a new type of digital coin and sells a slice for the fiduciary currencies on a plate-form or a digital exchange.
In 2017, the ICOs in Switzerland are living close to $ 550 million in financing, or about 14% of the global OIC market, worth about $ 4 billion. Tezos’ ICO based in Zug raised $ 232 million in July 2017. The Tezos Foundation faces fewer than a dozen class actions in the United States, which have been deceived and defrauded. “Many ICOs are structured as they are applied for non-profitability purposes.

On behalf of Swiss ICOs, FINMA issued ICO Guidelines on Anti-Money-Laundering and Securities Laws on 16 February 2018.  ICOs will be treated as securities in Switzerland.
There are some exceptions, to use as a payment platform or as cryptocurrency. According to FINMA, securities will not be held, even though they are subject to anti-money laundering regulations.


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