Is Switzerland a cryptocurrency heaven?
The Swiss have embraced innovation of digital money and cleared its path to cut into volatile central bank controlled fiat currency markets, while also reducing fees and improving security on the technology.Looks like a heaven for cryptocurrencies.
First off, the initiative to a bitcoin-like financial system in Switzerland was voted down. It did not push through although it was able to gain 500,000 votes in totality. It could have been really a breath taking moment for cryptocurrency world if this initiative pushed through.
Yet, i could never discount the possibility of Switzerland being the haven of cryptocurrency as they have the Crypto Valley located in the city of Zug accepting bitcoin as payment for certain municipality services. Here we see how their government is open towards embracing bitcoin and cryptocurrencies.