"Switzerland wants to be a crypto nation" Economic minister.

[godzillarekt007]

Brilliant, it goes to show that other progressive countries are not going to stand by and let these silly bans happen. They are understand the technology, they aren't greedy about it, and thus they will adopt the technology at a much faster rate which will only benefit their citizens in turn. Shame on you Korea and China we all know why you are "banning" bitcoin and cryptos right now and it isn't for the good of the citizen (which is what you claim)!

[tee-rex]

Brilliant, it goes to show that other progressive countries are not going to stand by and let these silly bans happen. They are understand the technology, they aren't greedy about it, and thus they will adopt the technology at a much faster rate which will only benefit their citizens in turn. Shame on you Korea and China we all know why you are "banning" bitcoin and cryptos right now and it isn't for the good of the citizen (which is what you claim)!

Well, bitcoin seems to have been a real pain in the ass for the governments of the countries you mention (Korea and China), and we have yet to see what Switzerland and other European countries which are seemingly pro-bitcoin would be up to if bitmania scaled up there to the level it was in these Asian countries. My point is that we don't know how the "progressive" countries would actually react if people got engaged in bitcoin as deeply as they were in Asia.

[Lancusters]

I believe that Switzerland will provide the opportunity to use cryptocurrency not only its citizens but also citizens of other countries. Only it can be very difficult. America is not interested in the fact that the dollar was losing its appeal in the world. America can very effectively lobby for their interests around the world. So they can get loyal to bitcoin countries to withdraw support for cryptocurrency.

[farhaan]

Switzerland has always been a friendly nation to bitcoin next to japan.Now yet,it has taken another step forward.Its really interesting to hear from switzerland such a thing when most of the countries take a stand against crypto coins.

The financial country of banks Swiss taking such a decision adds more value to the subject than a smaller economic state taking such stand.

We could hope that this move from swiss would make other world countries to rethink about their stand against bitcoin or any other cryptos.

[pitiflin]

I didn't read your article but this is something that would help the markets hopefully. The markets are so hung down, they need some sugar.
Its funny how Switzerland is thinking of this, when they have Swiss banks, got to see what they have got to say, apparently they are also banks at the end of the day. Swiss banks are known for anonymity, now if Swiss becomes a crypto economy, we know what is going to happen .

[LeGaulois]

I didn't read your article but this is something that would help the markets hopefully. The markets are so hung down, they need some sugar.
Its funny how Switzerland is thinking of this, when they have Swiss banks, got to see what they have got to say, apparently they are also banks at the end of the day. Swiss banks are known for anonymity, now if Swiss becomes a crypto economy, we know what is going to happen .

Not any Swiss banks will accept you without giving your identity.The Bank privacy period is gone for 1 or 2 decades now. Switzerland can exchange information with other countries in the context of administrative assistance according to OECD standards as well information in the context of mutual legal assistance.

[ylnar123]

I read this news at  https://www.fxstreet.com/news/swiss-ecomin-switzerland-wants-to-be-a-crypto-nation-201801300630  and its  really gladly my heart.   
Economy minister Johann Schneider Ammann, Said "Switzerland want to be a crypto nation" as at the time when many developed and developing countries are expressing their negative options on cryptocoin and we are hearing news that many countries want to ban it. What is your take on this move or comments?

It is a great new for crypto world since it would open up a new opportunity for ICO to start in their nation and could give a boost on cryptocurrency. We could expect price hike if their are more nations to be open up on cryptocurrency.

[Dragon5]

It is just the beginning... For sure, this number-one banking country could not miss this innovation in finance. And they do everything with care, I'm sure if they have exchanges or trading markets, everything will be thoroughly planned.

[sofi@]

Everyone here surely loves the idea of getting into digital economy after seeing the success of bitcoin through the years, but there are lots of issue that needs to be consider first, it is a good thing that some countries shows interest in getting in crypto nation I just hope they succeed so that other countries will be encourage to follow their footsteps. I'll be glad hearing the next chapter of Switzerland after this news.

[audaciousbeing]

I read this news at  https://www.fxstreet.com/news/swiss-ecomin-switzerland-wants-to-be-a-crypto-nation-201801300630  and its  really gladly my heart.  
Economy minister Johann Schneider Ammann, Said "Switzerland want to be a crypto nation" as at the time when many developed and developing countries are expressing their negative options on cryptocoin and we are hearing news that many countries want to ban it. What is your take on this move or comments?

I am sure a lot of people didn't even bother to read what the article is all about before jumping to comment on how good the news and how its going to be make bitcoin $50,000 over night but reading that article made me realize two things and that dream everyone is happy about, might be far from coming to reality.

1. The comment is a reported statement because the article didn't quote the minister directly but state that another body reported it and when the source cannot be traced directly, the probability of distortion is high.

2. In the said article, there is a caption that says "We think there is huge potential — but the market is not as disciplined as we want. We want it [the ICO market] to prosper but without compromising standards or the integrity of our financial markets.” and that is where the challenge because everything he was reported to have said is a conditional statement and what would necessitate that seems difficult to achieve.

[PatronRH]

Eventually it may happen but not yet. Bitcoin just isn't able to be a country currency it is far away to be something like for the simple reason that it is not stable. So in time when bitcoin stabilize , nations may take it for serious to consider bitcoin as a currency and it would help better the economy as it is decentralized.

[scorilo]

heard about this some time ago and I think this shows the good future crypto coins will have. not only Switzerland wants to but Sweden too. I can;t wait for some official announcements about developing them

[vidprab5]

What about going a step forward and having a whole country on blockchain?

It would be doing that too. It appears to me that Switzerland understands the true worth of crypto and how important it is to be a crypto nation in order to survive in the future. The earlier someone starts dealing into digital currencies, the better his economy would get with time.as far as the blockchain technology is concerned, just one thing to say “Truly Amazing”. A good way to secure one’s activities.

[Xavieroz]

I know little about the subject of Switzerland and the cryptocurrencies, but I admire that they want to give the new sight to this monetary condition, perhaps later they want to include some rules for the circulation of the cryptocurrency and expand their projection with the cryptocurrency card for ATMs. But I think that for them to give a good look at this, they have to get other countries to accept it or listen to their laws of restriction or circulation. It is a good situation but at the same time with which they should be careful, although I am in favor of the free circulation of the altcoins and the bitcoin.

[tee-rex]

I didn't read your article but this is something that would help the markets hopefully. The markets are so hung down, they need some sugar.
Its funny how Switzerland is thinking of this, when they have Swiss banks, got to see what they have got to say, apparently they are also banks at the end of the day. Swiss banks are known for anonymity, now if Swiss becomes a crypto economy, we know what is going to happen .

As has been said already, there is no more anonymity in Swiss banks, at least not if you are a US citizen. A few years ago, the US Department of Justice launched a massive assault on Swiss banks which had presence in the US territory, making them reveal private information on the accounts of American citizens opened in these banks. Americans used Swiss banks to escape the IRS, the tax service in the US. At first, the banks refused to provide this information, but in the end they succumbed after they had been fined by the DoJ. So if you want anonymity, stay away from banks altogether. Use personal wallets, not services like Coinbase.

[raven7886]

I read this news at  https://www.fxstreet.com/news/swiss-ecomin-switzerland-wants-to-be-a-crypto-nation-201801300630  and its  really gladly my heart.  
Economy minister Johann Schneider Ammann, Said "Switzerland want to be a crypto nation" as at the time when many developed and developing countries are expressing their negative options on cryptocoin and we are hearing news that many countries want to ban it. What is your take on this move or comments?

Well,  that sounds positive, but first, I’d like to ask– are you from Switzerland? If you are not,  then why are you so excited about the news,  cause it has nothing to do with you. And know it, if Switzerland happens to adopt the use of crypto as a their real currency,  it wouldn’t be bitcoin,  they will create their own crypo that will be issued out by their banks, and it will need a lot of verification, cause its not going to be like bitcoin.

In near future, we are going to have more countries to create some new crypto also to adopt bitcoins. But after some time, all governments will come to realize the potential of having only one currency which will be bitcoins for sure. So, all the above if a country starts thinking about crypto must be a good sign toward bitcoin as a one single currency for entire Earth.

[ajochems]

The acceptance of cryptocurrency is a positive sounds. We get some profit only if the accept the available cryptocurrency such as bitcoin, Ethereum, litecoin or anything else. If they adopt any one the available cryptocurrency means,the price of that currency will reach the maximum. Instead, the create their own currency means, I think it's not a good news for us.May be for their citizens.

[Harlot]

Well the State Minister didn't literally say that they want to become a "crypto-nation" as only it is one of those misleading headlines made by the media to create more attention. Saying that they want to become a "crypto-nation" will make readers think that they will be transferring into a cryptocurrency only mode of payment. As they are only looking into possibility of having their own cryptocurrency market without any compromise with the standards and integrity on their financial market. I must say it is a good move as they will be one of the nations where they have their own regulated market.

[Yurkov]

Switzerland is one of the most important countries in global banking. If they accept cryptocurrencies, it will certainly have a positive impact on the entire crypto market. Maybe other countries will follow this example.

[jimbo2000]

Switzerland is one of the most important countries in global banking. If they accept cryptocurrencies, it will certainly have a positive impact on the entire crypto market. Maybe other countries will follow this example.

They are at the forefront of almost all things in banking and also when it comes to regulation and so any push from Switzerland to adopt crypto's will be huge. As a country they are among the most progressive.