In the last 3 years blockchain activists, financiers and lawyers built a Silicon Valley for blockchain projects in Switzerland. Crypto Valley is an ecosystem centered on the Swiss canton of Zug, with active connections to international centers of blockchain innovation in London, Singapore, Silicon Valley and New York. In 2015 the Swiss financial market regulator (FINMA) announced that bitcoins will be treated as a foreign currency, which means that no new regulations are needed, and that bitcoin transactions will be exempt from sales taxes.
«In 2014 the managing partners of MME Partners presented to us – a dozen IT lawyers from around Europe – about the setting up a Bitcoin association. The presentation was held in Zurich during the annual meeting of the World IT Lawyers association and back then it did not really sound serious to most of us, including myself. And now MME Partners are among the leaders in the industry and Axon Partners are returning to Switzerland as new members of the Crypto Valley Association” – says Dima Gadomsky, CEO Axon Partners.
“Crypto Valley was founded to bolster cryptocurrencies in a particular region. We see its influence expanding way beyond Swiss borders. Now is the right time to link one of the best cryptocurrency ecosystems with the brightest Eastern European blockchain projects to boost the industry together. We’d also love to bring technology-friendly legislation to other regions and Zug looks like a good role model for that.” – comments Oret Gavrylyak, partner.
And one more thing – a few months ago, we published research on legal issues facing cryptobusinesses across the world. Have a look, if you have not seen it before (the English version will be released in a couple of days).