Legislation of virtual currency in Switzerland

1. There are so many things blockchain can do. However, blockchain is just a technology with a very broad prospect, similar to the Internet technology in the 1990s. The Internet has been proved to be the greatest technology in the 21st century, which has changed the way of human survival
for example, blockchain can be applied to P2P, bills, securities and other financial fields, as well as contracts. Of course, it can also protect intellectual property rights, such as distributed content publishing platform decent

2. In the early morning of September 5, Beijing time, according to the Wall Street Journal, UBS is working on developing a prototype of virtual currency, hoping that banks and financial institutions can use this currency as a settlement method for transactions in mainstream financial markets in the future
however, the "settlement coin" being developed by UBS is different from the digital currency bitcoin, which will be linked with real-world currencies and central bank accounts
this virtual currency will be used to support transactions on institutional financial platforms, which are based on the so-called "blockchain technology", similar to the so-called "distributed ledger" on which bitcoin completes transactions
for example, Swiss bank may have its own platform based on blockchain technology to issue bonds, while another bank may have a stock trading platform based on blockchain technology, but both platforms can use the same "common settlement currency" for settlement
unlike real currency, the "allocated ledger" used in this virtual currency will be verified by a computer network on the Internet, rather than by a centralized authority“ The result of the first use of "allocated ledger" is the creation of bitcoin, a virtual currency linked to money laundering and the online drug market, but it is being used by more and more legitimate businesses and emerging financial services start-ups around the world
in the past 18 months, blockchain technology has increasingly been regarded as a breakthrough trading and settlement method by mainstream financial institutions, which can be used for trading and settlement of real-world financial instruments such as stocks and bonds
UBS is working with clearmatics, a London start-up company, to develop this digital currency, which has developed a software based on blockchain technology to clear and settle financial transactions. Swiss bank executives said they did not plan to issue the digital currency on their own, but wanted to work with other market players, such as asset management companies, regulators and market structure providers such as clearing houses and exchanges, to create an instry wide proct

at present, more and more traditional financial institutions have begun to face bitcoin, especially blockchain technology. In the jewelry instry, Fuyuan coin with the nature of instry business points also appeared. Bitcoin and bitcoin technology will enter thousands of households in the near future.

3. In the early morning of September 5, Beijing time, according to the Wall Street Journal, UBS is working on developing a prototype of virtual currency, hoping that banks and financial institutions can use this currency as a settlement method for transactions in mainstream financial markets in the future
however, the "settlement coin" being developed by UBS is different from the digital currency bitcoin, which will be linked with real-world currencies and central bank accounts
this virtual currency will be used to support transactions on institutional financial platforms, which are based on the so-called "blockchain technology", similar to the so-called "distributed ledger" on which bitcoin completes transactions
for example, Swiss bank may have its own platform based on blockchain technology to issue bonds, while another bank may have a stock trading platform based on blockchain technology, but both platforms can use the same "common settlement currency" for settlement
unlike real currency, the "allocated ledger" used in this virtual currency will be verified by a computer network on the Internet, rather than by a centralized authority“ The result of the first use of "allocated ledger" is the creation of bitcoin, a virtual currency linked to money laundering and the online drug market, but it is being used by more and more legitimate businesses and emerging financial services start-ups around the world
in the past 18 months, blockchain technology has increasingly been regarded as a breakthrough trading and settlement method by mainstream financial institutions, which can be used for trading and settlement of real-world financial instruments such as stocks and bonds
UBS is working with clearmatics, a London start-up company, to develop this digital currency, which has developed a software based on blockchain technology to clear and settle financial transactions. Swiss bank executives said they did not plan to issue the digital currency on their own, but wanted to work with other market players, such as asset management companies, regulators and market structure providers such as clearing houses and exchanges, to create an instry wide proct.

4. The appreciation of virtual currency is still a proct of the serious bubble in the global money market.

5.

The currency used in Switzerland is the Swiss franc

Swiss franc is the legal tender of Switzerland and Lichtenstein, which is issued by the Central Bank of Switzerland. The Swiss franc is a hard currency. Most of Switzerland's neighbors use the euro. There are also shops and institutions in Switzerland. Since January 15, 2015, the Swiss Franc has been decoupled from the euro. Swiss francs 200, 50, 20 and 10 have been issued. Currency code: CHF

according to the law of coinage, which came into effect on May 7, 1850, Switzerland adopted the silver standard system. The name of the currency was defined as franc, which belongs to the unlimited legal compensation currency. 1 Franc = 100 births (centime or German Rappen), and its value was equal to that of French franc. Previously, around 1860, only French gold coins were allowed to circulate

On December 23, 1865, Switzerland, France, Belgium and Italy formed the Latin monetary union, which stipulated that gold and silver coins could be freely circulated in each member country, with unlimited legal compensation and fixed official exchange rates among the currencies of each member country

As a result, there are several currencies in circulation in Switzerland at the same time. After the dissolution of the alliance in 1925, the Swiss government banned the circulation of foreign coins, and the Swiss Franc became the only currency in circulation

When the Swiss Franc was established as the national currency, although the Federation was the only issuer of the franc, before 1910, private banks were allowed to issue their own banknotes. The National Bank of Switzerland was established in 1907 and has been the only bank note and coin issuing institution since 1910

extended data:

since March 2010, the Swiss central bank has taken many measures to ease the rise of the Swiss franc, but with little effect. Since July 2011, the Swiss Franc has reached new highs against the euro and the US dollar. On August 3, the Swiss central bank announced emergency measures to intervene in the rise of the franc by cutting interest rates. The market did not immediately respond, the Swiss central bank immediately announced on the 10th to expand the scope of liquidity operations

influenced by the speculation that the Swiss central bank will take more radical measures to curb the appreciation of its currency, the exchange rate of the Swiss franc against the euro and the US dollar once fell, even reaching the highest level against the euro since the establishment of the euro zone in 1999

On the 17th, the expected Swiss cabinet meeting issued an action plan to deal with the rapid appreciation of the Swiss franc, deciding to rece the burden of enterprises through subsidies, tax cuts and other measures, so as to enhance the market competitiveness and anti risk ability of enterprises to tide over the difficulties. Due to the lack of expected severe measures in this plan, the Swiss Franc immediately recovered and resumed its upward trend

although the previous intervention measures of the Swiss central bank slowed down the rise of the Swiss Franc to a certain extent, it is difficult to say whether it can reverse the rise of the Swiss Franc under the premise of the slow recovery of the world economy. Unless international financial markets return to stability, investors will still hold the franc even in the face of negative interest rates

in addition, as the expectation of the Federal Reserve to adopt new quantitative easing measures heats up, the trend of US dollar depreciation is obvious, which will also weaken the effect of the Swiss central bank's intervention in the appreciation of the Swiss franc. Of course, in the long run, in order to lower the exchange rate of the Swiss franc, the Swiss central bank may directly intervene in the market and sell the Swiss franc, and its last resort may be to introce a minimum exchange rate or link the Swiss Franc to the euro, so as to pave the way for intervention in the foreign exchange market

the globalized market has created the globalized economy and finance. Switzerland has always refused to join the euro area. It has become a synonym for stability and reliability for a long time. But now it is also suffering from the slowdown of world economic growth, and it is difficult to restrain the decline together. From the perspective of global markets, the game over the exchange rate of the Swiss franc is not over

6. The so-called digital currency and finance license generally refers to the license to operate digital currency related business in a certain country or region. Having a digital currency and finance license means that the institution can conct business and derivative services related to digital currency in the place where it is issued. Such as the establishment of digital currency exchange, payment, digital currency and financial derivatives, etc. Swiss digital currency license is a license with strict supervision and advantages in the world

in 2017, the Swiss government formulated a legal framework for fintech, including digital goods dealers and fast chain technology providers. The new regulation was passed on July 5, 2017 and came into effect in August. In the plan that has been launched, the Swiss government has set up a "sandbox" for currency supervision, aiming to create a more relaxed environment for Bi start-ups

the business scope of Swiss sunz money company is as follows:
1. The company can provide sunz money transaction, sunz money bank and digital wallet services; Secondly, it can provide the following other services:
2. Conct credit transactions (related to consumer loans or mortgage loans, factoring business, commercial financing or financial leasing)
3. Provide services related to payment transactions, conct electronic transfer in the name of others, or issue or manage payment methods, such as credit cards and traveler's checks
4. Trading in the customer's own name, or in the form of currency, money market instruments, foreign Huis, precious metals, commodities, securities, and derivatives
5. Asset management
6. Holding or managing securities
7. Provide investment advice
8. Holding or managing securities<

the conditions for the establishment of Swiss digital currency trading company are as follows:
1. Swiss legal person company, whose registration category is SA / Ag / PLC
2. Swiss companies should have two Swiss residents as registered directors
3. Provide the asset security of 100000 Swiss francs, including 50000 Swiss francs, which needs to be frozen when the company is registered and unfrozen after the company is registered. The company needs to keep a deposit of 100000 Swiss francs in its account
4
5. In addition to the directors, we need to employ about 2 employees
6. Open the company's corporate account

compared with the United States and Estonia, the Swiss license application is more difficult and expensive.

7. Unknown_Error

8. As long as there is demand for any kind of goods, there will be a market. If there is a money making effect, there will be a steady stream of popularity and prices will continue to rise. Bitcoin is more of a kind of speculation

9. This currency may not be very common in Switzerland.

10. In Basel, Switzerland, such as the Basel Capital Accord, a universal financial rule, is born. The bank for International Settlements is also located in Basel. Switzerland's economic status in the world can not be underestimated. Its currency is also very strong and stable. All this makes the Swiss Franc a safe haven currency.