What Benefits Do You Have In Switzerland For Crypto Trading?
Switzerland was one of the first countries to develop a legal framework for ICOs. In addition, financial market regulators approved the creation of the first private bank providing asset management services in cryptocurrencies (Falcon Bank).
Switzerland has already been chosen by hundreds of blockchain startups, most of which are registered in the low-tax canton of Zug, which has already been named Crypto Valley. The Swiss government is also looking to take the lead in a growing market. The shaky position of Swiss banks is also contributing to the development of a new direction for the economy.
Crypto business in Switzerland
The registration of crypto business is also very easy and transparent, the Financial Market Supervisory Authority provides the whole legal procedure. This institute provides proper guidelines to crypto companies as well. Switzerland was one of the first countries to develop a legal framework for ICOs. In addition, financial market regulators approved the creation of the first private bank providing asset management services in cryptocurrencies. Cryptocurrency in Switzerland is officially perceived as a foreign currency, and most traders aren’t charged tax on capital gains.
All cryptocurrency exchanges are legal in the country. Another very efficient way to participate in the Bitcoin price is to buy Bitcoin Exchange Traded Products. ETPs are collateralized, non-interest-bearing debt rights made out to the bearer. The choice on the market is continuously growing. On the Swiss exchange SIX, the world’s leading regulated market for ETPs on cryptocurrencies, you’ll now find a range of more than 40 crypto ETPs — including new ETPs on Bitcoin from CoinShares.