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RE: Is Switzerland the Eldorado for Crypto Currencies ?
Swiss Banks are tremendously scared of scams or money laundring so they prefer to kick you out rather than have problems later. There are however some small banks who are starting to provide solutions for the crypto related businesses. Thanks for the resteem !
Hi @achim03
Im very sorry for such a delay with my replies but currently Ive been overwhelmed with amount of work that has been related to my latest contest. I never expected to receive such an amazing support.
Back to the topic: what about crypto and ICO's being developed in Switzerland? Are swiss banks also against them?
Yours
Piotr
Hi @crypto.piotr
Thanks for taking the time to answer. I can understand that you have a lot to do with your contest. Amazing work that you are doing there ;-).
To answer your question:
At the moment the swiss banks don't differentiate the ICO's. They have simply not adapted their tools to consider the functionning of ICO's. The biggest problem for them is to control the provenance of funds. According to money laundring law, all amounts above a certain value have to be traced to its origin. So in order to avoid problems with this law, Swiss banks just prefer to cancel their relationships with crypto related businesses.
On the other hand Swiss gouvernement is actively trying to find a solution for the start ups to be able to have bank accounts.