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One of the problems in the cryptocurrency sector is regulation, since many countries have different attitudes towards space. There are some countries, like China, that are trying to crack down on cryptocurrency in general, while there are other countries like Malta, which aim to be a center for blockchain innovation.
Likewise, there are all kinds of different politicians who see space differently. There are some politicians who believe that the blockchain space will revolutionize the world, and there are others who believe that the cryptocurrency industry is not sufficiently regulated to protect consumers at the moment. Regardless of this, the cryptocurrency community has won a big win today, as did an encrypted politician just become the president of the Swiss Confederation, after having been elected on 5 December last year.
Federal Councilor Ueli Maurer was elected President of the Swiss Confederation for 2019 by the Federal Assembly (parliament) today. It's happening to the president @alain_berset January 1, 2019. Congratulations! @efd_dff https://t.co/kZtWwKXqlV
– Swiss Embassy (@SwissEmbassyUSA) 6 December 2018
About Maurer
For those who do not know it, Switzerland has a Federal Council of seven members and the executive role rotates among the members. The role is now occupied by Ulrich "Ueli" Maurer, on December 5, by an overwhelming majority (201 out of 209 votes of members). Maurer is a 68-year-old accountant.
Maurer is the former finance minister and has supported legislation that seems to understand that blockchain must be recognized as a potential "turning point" with regard to various sectors.
On Switzerland
It should not be surprising that Maurer is "pro-crypto", considering that he was the finance minister of Switzerland, a country clearly open to blockchain and cryptocurrency. Zug, in Switzerland, is already known as "Crypto Valley", a game on "Silicon Valley" in California – the most important area in the world for technology companies.
It seemed that Maurer understood that while Switzerland was surely becoming a destination for blockchain startups, there was certainly competition. At the beginning of last year, he invited bankers and regulators to discuss the cryptocurrency space. The Swiss Bankers Association (SBA) has therefore formed a group and some Swiss banks have accepted customers linked to cryptocurrency, indicating the power, persuasion and influence of Maurer.
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