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News Link • Bitcoin

Swiss Propose Treating Bitcoin Like Any Other Foreign Currency

•, by Tyler Durden
 A postulate signed by 45 (of 200) members of parliament asks for bitcoin to be treated as any other foreign currency - and examine the potential bitcoin-related opportunities for the Swiss financial sector.
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.

The postulate petitions the executive branch to reply to four basic questions: whether or not bitcoin represents an opportunity for the financial sector, should bitcoin be treated as a foreign currency, what regulatory instruments should be used to establish legal certainty for bitcoin and similar currencies, and what sort of regulatory changes are needed and when can they be implemented.

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