Swiss Parliament Gearing Up to Vote on Treating Bitcoin as Foreign Currency
In early December there was a mention of members in the Swiss Parliament wanting to treat bitcoin as a foreign currency. In that article, we wrote, "Forty-five members of the Swiss parliament have agreed to sign a postulate that considers bitcoin a foreign currency." Now, the Swiss Parliament is gearing up to vote on proposals that treat the digital currency as such. According to Finextra, "If approved by Parliament, the questions will be posed to the Swiss executive arm of government, the Federal Council for judgment." Approval from high office could set an example to other governments,....
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While bitcoin has had the history of being seen as a voucher in the United Kingdom and a hobby in places like China, Switzerland is taking a much difference approach. Forty-five members of the Swiss parliament have agreed to sign a postulate that considers bitcoin a foreign currency (that effectively puts the cryptocurrency in the same boat as the United States dollar or the Chinese yuan). This postulate is also the beginning of research into what kinds of opportunities bitcoin can hold for Swiss finance. According to this post on Bitcointalk, "The next formal step is for the Swiss....
The Swiss Parliament is considering a postulate that asks for bitcoin to be treated as any other foreign currency. The goal of the postulate, introduced by representative Thomas Weibel, is to eliminate ambiguities and increase legal certainty related to bitcoin. If it is approved by parliament, it will be submitted before the Federal Council, Switzerland's principal executive institution. If the Federal Council agrees that bitcoin should be treated like other foreign currencies, it will also evaluate how to implement the postulate. In addition, the executive was asked to examine the....
The Swiss parliament has made a lot of headway since lawmaker Jean Christophe Schwaab first asked to look into cryptocurrencies back in September. Just three months ago, Schwaab was on record as describing Bitcoin as something for “geeks, criminals and special police units.” Fast forward to this week: Schwaab himself was among 45 Swiss parliament members who signed a proposal, or postulate, that would treat Bitcoin as a foreign currency. This could be a big step forward in legitimizing Bitcoin in Switzerland and Europe. Ultimately, it would allow the Swiss banking sector substantial peace....
A new Australian political party called Flux is aiming to ‘upgrade democracy’ and change the way Australians vote by using the Flux app built entirely on the blockchain platform. What is the Flux? This is a tool that enables Australians to participate directly with parliament, making the need for trust in elected officials to become a thing of the past. On July 2, the Flux Party are putting up 13 candidates for election to Australia’s Senate in federal elections. By using a cellphone app, Australians who can prove they are registered voters will be able to inform elected represented....
Successful or not, the vote will bring crypto education to people who are not yet Bitcoin-savvy, 2B4CH founder said. 2B4CH, a Swiss non-profit think tank assisting the state in exploring cryptocurrencies like Bitcoin (BTC) and blockchain technology, is launching an initiative to potentially make Bitcoin one the country’s reserve assets.On Oct. 8, the association announced plans to start a federal popular initiative aiming to collect 100,000 signatures for introduction of Bitcoin to the article 99 clause 3 of the Swiss federal constitution.The initiative specifically proposes to add Bitcoin....