The Swiss Federal Assembly, which handles government legislation, approved on March 20th a motion directing the Federal Council to regulate cryptocurrencies. Switzerland has long been recognized as a leading hub of blockchain and cryptocurrency technology, with the Swiss town of Zug internationally referred to as “Crypto Valley.” Liberal Assemblyman Giovanni Merlini will instruct the Federal Council on adapting existing legislation to include and accommodate cryptocurrency and associated risks. The Council approved the motion with 99 to 83 votes in favor and 10 abstentions. Why Regulate Cryptocurrency? The motion is the first step in tackling issues like money laundering, extortion, and
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