Swiss government expected to relax regulation of blockchain companies and promote financial technology reform

Government regulation of blockchain technology has put pressure on startups in the industry. In particular, companies involved in financial transactions, such as wallet services and exchanges, are usually regulated by the government in accordance with bank regulatory standards, setting strict management standards and capital regulations for them.

Although Switzerland has always enjoyed the reputation of being a "cryptocurrency paradise", there is no trading platform in the country. However, there are Bitcoin ATMs in many cities in Switzerland, with Zurich having the largest number.

Recently, 24 members of the Swiss Parliament launched a proposal to relax the government's supervision of blockchain companies. This will be an important step for the future development of Bitcoin technology in Switzerland.

Switzerland is striving to be at the forefront of financial technology reform. Bitcoin and blockchain play an important role in financial technology reform. Members of parliament recognized the importance of blockchain startups and laid a solid foundation for the development of blockchain technology. The Swiss Financial Market Supervisory Authority (Finma) is expected to review the proposal next month.

However, the launch of this proposal does not mean that Bitcoin and blockchain technology are completely unregulated in Switzerland, but it only leaves more room for development and innovation for startups. Switzerland's relaxation of regulations on blockchain technology will attract more blockchain startups from around the world to settle in.

As of press time, the Swiss parliament has not yet voted on the proposal. The voting date is yet to be determined. Whether the proposal is ultimately passed or repealed, it sets a precedent for the regulation of cryptocurrency technology.

Bitcoin and blockchain technology are hot in India. More and more people are using Bitcoin for bill payments and online shopping. Currently, the Indian authorities have not yet announced how to regulate Bitcoin, but this does not mean that it is illegal. It seems that Switzerland is following India's example and only retains partial regulatory powers.