During a visit to Israel on Monday, 17 September, the government officials of Switzerland has announced its willingness to provide Israel with expertise in the development of the rules for cryptocurrency and blockchain industry. This is with reference to Reuters reported CCN.
The delegation, headed by the Minister of Finance of Switzerland Ulrich Maurer (Maurer Ulrich) and the state Secretary for international financial matters jörg Gasser (Jörg Gasser), arrived in Israel for the conclusion of a Treaty on access of Swiss banks to local markets. Instead, the delegates proposed a cooperation in the framework of the legal basis for various financial technological niches, including in the context of anti-money laundering legislation and counter terrorism.
Gasser said that has already begun to create a recommendation report on the methods and factors of legal regulation of the blockchain-industry and intends to provide for consideration by the Israeli Parliament to the end of this year. Thus, the new rules, if they successfully pass an audit by the Israeli officials, will come into force in 2020.
Both countries are known in their regions as major centers of the IT and financial technological developments and business. Zug hosts the headquarters of many blockchain-companies and start-UPS, while the main stock exchange of the country in July announced the launch of cryptocurrency trading. In Israel recently, digital assets were recognized as assets, in connection with which the country had imposed a special tax.
