Johann Schneider-Ammann, who served because the President of Switzerland in 2019, just lately joined the board of Crypto Valley Venture Capital, or CV VC. CV VC is a startup that invests in crypto companies close to Zug, Switzerland, the “crypto valley” of the namesake agency.

Corresponding with Cointelegraph, Schneider-Ammann credited CV VC with creating “its own ecosystem,” however noticed blockchain as a significant factor in Switzerland’s future:

“I am fascinated by the potential of this new technology and I am convinced that this gives us in Switzerland a unique opportunity to become a leader in the technology of the future.”

Beyond the crypto valley

Switzerland is understood within the crypto neighborhood for its welcoming system of regulation, with native watchdog Finma among the many most progressive on the planet. Schneider-Ammann defined some great benefits of the Swiss system to Cointelegraph:

“The flexible Swiss legal system allows existing, abstractly formulated laws to be applied to new challenges with little effort.”

The description certainly resembles goals printed just lately by the top of a serious United States regulator. As an instance, Schneider-Ammann pointed to Switzerland’s relationship to preliminary coin choices (ICOs) – a contentious topic in a lot of the remainder of the world. He defined that Switzerland, by issuing steerage in 2019, “became one of the first authorities to formalise this process.”

Change in recent times

Shneider-Ammann famous a serious improve in crypto exercise since his time period as president:

“Over the last six years, a unique ecosystem of over 800 companies has developed around the Zug hotspot in Switzerland, dealing with Distributed Ledger Technology (DLT) or Blockchain.”

Such heavy hitters as Facebook have picked Switzerland because the place to launch crypto initiatives – of their case, Libra, a lot to the chagrin of U.S. regulators.