So Switzerland has decided to take a very different route regarding crypto assets. That's unfortunate!
They are known worldwide for their banking secrecy law which allows them to protect the information of their banking customer's data from any countries in the world.
It's unfortunate to see them taking a different route altogether for crypto assets. Probably they want to safeguard their own banking business by making crypto information available for the world.
The Switzerland step, despite their reputation for acknowledging and welcoming privacy, caught me off guard because they are not among the countries I expected to make this type of decision, and I believe ETF could be what trigger this move.
Ever since the Bitcoin ETF came into the picture, I have already had the impression that every Bitcoin enthusiast has to step up their privacy activities and choose self-custodial holding more because many battles against privacy surely happen.
Imagine bad actors getting hold of the private data these people are trying to share?