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The Swiss government has recently announced plans to revise its position on the use of cryptocurrency and blockchain technology. In an attempt to reap the benefits of this technology, government officials have modified their strategies by referring to legal frameworks to enable these technologies to flourish.
Referring to the Swiss government's report, Swissinfo reported that "the main objective of the strategy is to incorporate decentralized digital tokens into Swiss corporate infrastructure, particularly in the financial sector".
In the same post, Swissinfo says that rather than devising new legislation, the Swiss government will modify the existing laws instead to pave the way for technology. This is a significant step forward not only for Switzerland, but for the world as a whole, as more and more people will learn about the ever-expanding world of cryptocurrency and blockchain.
The announcement was also welcomed by the Crypto Valley Association (CVA). Swissinfo quoted Mattia Rattagi, spokesperson for the CVA, stating:
"We believe that this approach best represents the principle of technological neutrality and is in line with the position taken by the CVA in the consultation process Basically, this approach ensures maximum consistency within the current legal framework, while maintaining the principle based ".
This marks a positive step forward, as not only do governments begin to recognize and understand the value that technology brings, but it is apparently becoming increasingly widely accepted around the world.
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