According to a recent study in local media, Switzerland is one of Europe’s most welcoming countries for crypto firms, who are continuing flocking there in droves. Unlike other nations, Switzerland has a structure of self-regulatory organisations (SROs) that are mostly controlled by the central bank and policymakers with little experience of the crypto business .
In March, Switzerland joined with Tether to lure investment to the new crypto centre, dubbed Lugano the “European Capital of Crypto.” The “Crypto Valley Association,” an independent, government-backed organisation, was founded in Switzerland to capitalise on the country’s capabilities in becoming a crypto and blockchain centre.
Copper.co, based in the United Kingdom, and Bitpanda, based in Austria, recently announced the launch of operations in Switzerland. Financial regulators put registration limits and timelines on crypto businesses operating in the United Kingdom earlier this year, prompting a migration to more welcoming countries like Switzerland.
Regulatory authorisation has been granted for Copper.co to help institutional investors in entering the digital asset industry. Dmitry Tokarev, the copper.co CEO remaked:
“Switzerland, as a pioneer location for digital assets, provides an ideal foothold from which to grow our mainland European presence.”
This is a significantly more efficient and flexible approach for crypto exchanges, which are handled in the United States and other restricted countries in much the same way regular stock brokerages and banks are.
