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Switzerland Takes Position on as the most Blockchain-Friendly Country in Europe

Blockchain

The blockchain conference  BlockShow Europe 2018 released a study ranked Switzerland as a number one country in Europe for starting a blockchain company. This is followed by Gibraltar and Malta a number two and three respectively. The study examined 48 European countries and was ranked based on Initial Coin Offering (ICO) regulations, regulations on crypto as a payment service, and taxation frameworks for crypto.

Switzerland has been hailed as a crypto-friendly nation because it has an established “crypto valley’’, a virtual currency hub in Zug. It also boasts of a tax-free haven status for crypto investors. Gibraltar, on the other hand, has attracted 200 ICOs before the planned launch of its Gibraltar Blockchain Exchange (GBX). Malta, on its part, welcomed major crypto exchanges Binance and OKEx and is commonly called the “blockchain island”.

Alongside the study, the Blockshow also released a poll blockchain-based app Polys which allows users to vote on the leading women and companies in the EU blockchain space. The winners of this voting will be announced during the BlockShow conference that will be held in Berlin at the end of this month.

In February this year, the European Commission launched the EU Blockchain Observatory and Forum which is part of their aim to unite the economy around blockchain. 

Even with the ratings and favourable blockchain environment, the EU has recently passed the laws around privacy. The regulations will come into effect on May 20. With these laws in place, the decentralised nature of blockchain technology will be compromised. EU will have to relook into these laws to ensure that they do not stifle innovation.

 

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