The current finance minister of Switzerland is having a different opinion when it comes to formulating new blockchain related regulations. Ueli Maurer, the finance minister of Switzerland, declared his controversial opinion at the “Infrachain conference” in Bern.
The present system and the laws pertaining to the legal system are functioning with any hindrance and moreover, the government is planning to introduce six new laws in the coming year that can cause come improvements in the civil code and bankruptcy laws. It will be easier to make the required amendments than to change the entire framework.
This can come as shocking news to some people, but a unique moment because the world is going another way around. The finance minister has many decades of knowledge related to banking services and is aware of all the competitions happening on a global scale. All the countries are racing towards the advanced technology of blockchain and trying to turn their country into a blockchain hub.
Countries on the globe
The neighbouring country of Switzerland, Liechtenstein, is ready to implement an act that can change the shape of blockchain technology in the country. Blockchain related law is at the country’s commission and can be expected to implement anytime in the year 2019.
Malta, the blockchain paradise is leading the blockchain race at present. The superpower of the world, USA, is moving at a slow pace but is definitely gaining some momentum with the recently implemented regulations. China has completely banned cryptocurrency but they are happy to welcome blockchain technology. this stand of finance minister may change or maybe not but still, the blockchain race is causing a lot of positive changes in the world.