World’s “Crypto Nation” Registers Bitcoin Association as a Non-Profit Organization

May 03, 2020 at 12:40 // News
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Switzerland is becoming a Crypto Nation

The Bitcoin Association has announced its certification as a non-profit organization based in Zurich, Switzerland and aims at preaching the gospel of Bitcoin and blockchain technology all around the world.

The association registered as a not-for-profit body in Switzerland will increase the visibility and acceptance of cryptocurrencies not only in Switzerland but elsewhere in the world. Besides, the legal recognition of crypto-focused companies and organization by governments is a step forward to realizing more crypto and blockchain awareness, investment, and support.

The Bitcoin Association is doing benevolent work around technical infrastructure, setting up crypto conferences, crypto development training, but also engages the government in policy matters relating to cryptocurrency and blockchain technology development. The fact that it has been recognized by the government might pave the way for other organizations looking to apply cryptocurrency-based solutions in its work. At least, it means that the offline world is open to digital innovations.

“Crypto Nations” growing!

It’s no wonder that a cryptocurrency-related organization was registered in Switzerland, for the country is not only considered to be a “dollar hub” but also a global financial Centre with full recognition and embracement of crypto and blockchain technology.

The Economics Minister of Switzerland in 2018 stated that he wants Switzerland “to be the crypto nation in five or ten years.” Switzerland’s canton of the Zug became the first institution worldwide to approve Bitcoin as an official means of payment and seems like the rest of Switzerland the world is embracing this legacy. Its capital, the city of Zug, has been even dubbed “crypto-valley” because it houses many crypto and blockchain tech companies and supports all crypto-related activities.

Apparently, there are over 350 crypto and blockchain technology companies in Switzerland alone.

However, Switzerland is not the only “crypto nation” today, there are many countries striving to set up crypto and blockchain development hubs, or even legalize cryptocurrency and blockchain development within their borders. A case in point is China, whose Central Bank Digital Currency is undergoing test and progressing, while its National Blockchain Network is now available for both domestic and international developers to utilize, as, a world blockchain news outlet, reports. Japan, South Korea and other countries have all shown interest in seizing the opportunities associated with crypto and blockchain technology.

Good news for the cryptocurrency community when crypto nations expand is that they would delve deeper into crypto and blockchain technology and improve the overall crypto experience. The chain of 350 blockchain tech companies in Switzerland is crucial in bolstering crypto development.

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