Global #Switzerland

The Swiss supermarket chain SPAR has become the first major grocery retailer in the country to accept cryptocurrencies for payments.

Crypto Valley, the Switzerland-based blockchain ecosystem, experienced a remarkable surge in 2024, surpassing a collective valuation of $593 billion.

A group of Bitcoin enthusiasts is pushing to have the Swiss National Bank (SNB) include Bitcoin as part of its official reserves alongside gold, dollars, and euros.

Samuel Kullmann, a member of the Swiss parliament, is spearheading a campaign to include Bitcoin in the country's central bank reserves.

In a bid to bridge the gap between policymakers and the rapidly evolving crypto landscape, the Swiss Blockchain Federation hosted an interactive workshop for members of the Council of States and the National Council.

The crypto landscape has evolved significantly in 2024, with numerous countries embracing digital assets and creating favorable environments for crypto businesses.

As the cryptocurrency market continues to evolve, certain countries are emerging as prime destinations for crypto businesses in 2024. A recent report by Social Capital Markets identifies Dubai, Switzerland, and South Korea as the top three countries, thanks to their legal clarity, favorable tax regimes, and growing acceptance of cryptocurrency payments.

Lucerne Cantonal Bank (LUKB) has made history by becoming the first traditional Swiss bank to offer deposit and withdrawal services for cryptocurrencies.

The SIX Swiss Exchange, one of Europe’s largest stock exchange operators, is making strides to enter the digital asset market amid increasing institutional interest and favorable legislation in Switzerland.

Switzerland is considering a significant expansion of its international information exchange protocols to include data on cryptocurrency assets. On Wednesday, the Federal Council initiated a consultation process for a new bill that would facilitate the sharing of crypto asset information with 111 jurisdictions currently part of the automatic information exchange framework.

Switzerland, renowned for its financial prowess and innovation, is taking decisive steps towards regulating stablecoins, a rapidly expanding segment within the cryptocurrency sphere.

As cryptocurrencies gain prominence, countries around the world are enacting diverse regulations to address the risks and opportunities of digital assets.