Officials from Switzerland visited Israel to discuss ways of regulating ICO and Blockchain in the crypto space. Switzerland has played an important role in the Blockchain innovation space so far.
Incidentally, Switzerland has played an important role as far as Blockchain innovation is concerned. The country has welcomed researchers and startups from different places with their Blockchain-friendly space. A tiny Alpine town called Zug in Switzerland is a major Blockchain hub that is frequently referred to as the Crypto Valley and has been compared to the Silicon Valley of California.
The head of the State Secretariat for International Financial Matter, Switzerland Joerg Gasser indicated that a report is being prepared on ICO and Blockchain regulation factors and methods. They would submit their recommendations by the end of this year so that the Swiss parliament can give an approval in 2019.
Gasser added that there are always solutions and ways and mentioned that the regulations of Switzerland are acknowledged by the European Securities & Markets Authority. He shared that they are willing to offer any information required for speeding up the process so that Swiss funds can trade on the exchange of Tel Aviv.
While the Finance Ministry of Israel did not want to comment, they did say that both the nations were unanimous about cooperating on cryptocurrencies, market access, and financial technology regulation and to face terrorist financing and money laundering, Reuters reported. Both Israel and Switzerland also agreed on exchanging notes to regulate Blockchain technologies.
Gasser Feels Switzerland Gets Left Out While Financial Decisions Made
As mentioned earlier, Switzerland is not a part of the EU and at time feels ignored while financial decisions are made on the continent, iNVEZZ reported. Gasser said that authorities in Israel focus on the regulations made by the European Union. However, the European Union does not completely acknowledge Switzerland’s rules always for political reasons.
The two nations may have a greater collaboration on having ICO Blockchain regulations in place. On an optimistic note, the discussion appears to have a bigger impact on the crypto space in the coming days.
The post Swiss Officials Visit Israel To Discuss ICO, Blockchain Regulations appeared first on OWLT Market.
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