Canada doesn’t want any "surprises" regarding central bank digital currencies. In a recent interview with Reuters, Bank of Canada Governor Tiff Macklem doubled down on the country's contingency-plan approach to CBDCs, stressing that he sees no urgent need to issue one right now. For Macklem, inter-state competition and coordination remains the key question when it comes to CBDC issuance. He told reporters: “If another country has one and we don’t, that could certainly create some problems. So we want to make sure we’re ready. Currencies move across borders, and so we certainly wouldn’t want to be surprised by some other …

Switzerland’s Federal Department of Finance has initiated a consultation process for a blanket ordinance in the blockchain and distributed ledger technology space. The consultation will happen among cantons, parties and other interested groups in this space. It is scheduled to continue for more than three months, ending on Feb. 2, 2021. This is a part of the Swiss government's active interest in promoting blockchain and cryptocurrency. The consultation to create better laws for the blockchain industry comes only a month after the government amended several existing finance and corporate laws to incorporate provisions for blockchain technology and DLT. According to …

As the cryptocurrency world matures with more and more jurisdictions legalizing it and ensuring crypto becomes an industry standard, cryptocurrency receives a quality mark that proves that it can earn users’ trust. Over the next four years, the European Union will introduce new rules that will allow the introduction of blockchain technologies and crypto assets into the traditional financial sector. For now, however, the need to obtain regulatory approval for financial activities remains the main obstacle to entering the market, which is also associated with a large waste of time and money for startups — although this is not always …

As the world is battling to recover from the damage caused by the coronavirus pandemic, a major cryptocurrency event in Switzerland prepares to take return to a physical format. Crypto Finance Conference (CfC) St. Moritz, an international crypto event held in St. Moritz, will take place from Jan. 20–22, 2021, and feature speakers from key industry firms and institutions like Winklevoss Capital, Swiss National Bank, the European Parliament, Ledger and others. Cointelegraph will serve as the main media partner for the CfC St. Moritz 2021. The upcoming conference is the fourth annual iteration of CfC St. Moritz and will be …

Repeatedly, proponents of disruptive technologies have proven that regulation and innovation have an immense potential to actualize a mutually beneficial existence. The often delicate relationship between innovators and regulators — which may be mired by antagonism — is fundamental to the functioning of the global economy, especially at times as challenging as we are facing now. The fuel that keeps the fire of the important relationship between regulators and businesses alight — like any — is communication and collaboration. This could not be more apt when it comes to the innovators behind distributed ledger technology and the regulators in overseeing …

The COVID-19 pandemic has forced governments worldwide to focus on bringing blockchain technology to their financial services, along with the needed regulatory upgrades to keep the burgeoning fintech industry clean. Related: Not like before: Digital currencies debut amid COVID-19 For example, on Sep. 10, Switzerland — a global center for the wealth management industry, housing around $2 trillion or 27% of global offshore wealth — passed a reformed Blockchain Act that includes a new set of laws and regulations to support the growth of blockchain and decentralized finance companies in the country. Related: Why Switzerland is becoming a “crypto nation” …

The Facebook-initiated Libra blockchain project continues to grow as its governing body adds a new major industry partner. Blockchain Capital, one of the largest venture capital firms in the blockchain industry, has joined the Libra Association, according to an official announcement Friday. Alongside the other 26 association participants, Blockchain Capital will now be working to create a “more equitable payment system” with Libra. Bart Stephens, co-founder and managing partner at Blockchain Capital, said, “Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.” The Libra Association was formed in June …

A subsidiary of Sberbank, Russia’s largest bank, has joined a blockchain-based platform for commodity trade finance. Sberbank Switzerland AG has signed an agreement with Swiss trade finance platform Komgo to apply its blockchain-powered trade finance service. Representatives from Sberbank Switzerland told Cointelegraph that the collaboration with Komgo addresses the growing digitization of trade finance. Evgeny Kravchenko, head of trade finance at Sberbank, outlined that commodity trade finance is a strategic business of Sberbank Switzerland. According to the executive, Russia and the Commonwealth of Independent States countries are the company’s key markets, while Sberbank Switzerland also supports trade flows globally. “In …

From enterprise blockchain adoption to the rise of decentralized finance, it seems like the blockchain landscape is constantly evolving in different ways. While impressive, it’s important to understand how blockchain is being applied within various industries. In order to highlight blockchain’s current global impact, a Swiss blockchain investment firm, CV VC, is releasing a new report together with Big Four firm PricewaterhouseCoopers Switzerland and Cointelegraph. Titled “CV VC Global Report H1/2020,” this report provides a detailed overview of companies applying blockchain technology across eight different sectors, including art, crypto banking, crypto exchanges, custody providers, market makers, platform and protocols, token …

A new group seeking to promote research and support blockchain firms has been formed. The Ticino Blockchain Technologies Association was launched with the participation of the University of Southern Switzerland, also known as the Università della Svizzera Italiana (USI), and the University of Applied Sciences and Arts of Southern Switzerland (SUPSI). The group’s goal is to support research and companies in the blockchain sector and promote academic studies of the technology. Other founding members are Bitcoin.com, Copernicus Holdings, Eligma, Euronovate, Eventboost, Pangea Blockchain Fund, Poseidon Group, the Quadrans Foundation, StrongBlock.io, Superflat and the Swiss Blockchain Consortium. “Blockchain is today a …

Swiss parliamentarians on Thursday passed a new set of finance and corporate law amendments that recognize the blockchain and cryptocurrency industry. As per a Swiss Info report, the government has amended several laws ranging from company bankruptcy to securities trading. The new set of laws define the legalities of exchanging digital securities and also the legal process of reclaiming digital assets from companies that go bankrupt. It further defines the legal requirements for running cryptocurrency trading exchanges such that it may mitigate the risks of money laundering using cryptos. These amendments come after the members of the House of Representatives …

Many believe that Blockchain technology has the potential to transform the art industry. To prove this hypothesis, a blockchain firm in Switzerland is hosting, alongside Cointelegraph, its first online event devoted to blockchain in art. CV Labs, the blockchain incubator arm of Swiss blockchain investment firm CV VC, has organized an online panel to discuss the hottest issues in areas of blockchain use for art. Titled “Blockchain in Art,” the online event will feature major industry players such as Niko Kipouros, CEO of 4ARTechnologies; Christina Steinbrecher, co-founder of Blockchain.art, a digital platform for artists and collectors; Nanne Dekking, CEO of …