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Why Switzerland should become a Crypto Nation

Switzerland has a great opportunity to become one of the world’s leading hubs for the crypto industry.

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When not covering fintech, cryptocurrencies, blockchain, banks and trade, swissinfo.ch's business correspondent can be found playing cricket on various grounds in Switzerland - including the frozen lake of St Moritz. 

The filmmaker from Italy, who was raised in Africa, calls Switzerland home now. Carlo studied film directing at the Italian National Film School, worked as a documentary editor and director/producer in Berlin and Vienna. He crafts multimedia into engaging narratives. 

So says Olga Feldmeier, CEO of cryptocurrency financial start-up Smart ValorExternal link.

Swiss Economics Minister Johann Schneider-Ammann has already proclaimed his vision of Switzerland expanding from its current Crypto Valley base in canton ZugExternal link to become known as a “Crypto Nation”.

Feldmeier welcomes the statement, but warns that the hardest work remains to be done: creating a regulatory environment that encourages more companies to set up their entire operations in the Alpine state.

Not everyone agrees with this vision. At the World Economic Forum in Davos, United States Nobel Prize-winning economist Josef Stiglitz warned Switzerland not to embrace cryptocurrencies too warmly, fearing they will be used for illicit purposes. But Switzerland’s crypto industry continues to grow.External link

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SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR