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<strong>In Switzerland </strong>
<p>
FINMA, a Swiss Regulator, has announced that they are in the process of forming a new blockchain Legal Framework. In 2019, Switzerland presented a draft bill including three crypto-friendly initiatives. Since then, the Government has been exerting efforts to form a First, it founded a legal framework to grant ownership rights to active digital assets investors. Second, they are subject to the bankruptcy rules related to cryptocurrency. Third, Switzerland has two licensed 'bitcoin banks'. Financial 
Market Supervisory Authority (FINMA) issued banking and securities dealers' licenses in August 2019 named SEBA and Sygnum AG. Before that, a lot of cryptocurrency and Bitcoin businesses had a hard time as the mainstream commerce didn't welcome them while working with the traditional banks was not an option either. 
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<strong>Conclusion & Recommendations 
</strong>
<p> 
While a lot of countries seem to support the development of digital currencies, and thus, encourage novel ways of transacting, there are still some states boycotting the new technology, considering it as an illegal disruption that would bring global financial instability. None the less, the world is gradually and steadily realizing and experiencing the benefits of this new technology, which is why the regulatory story is constantly changing. With U.S.'s Congressional resolution proposed in July 2016, which mentioned blockchain with proper protection, as the key source to change the way security and trust are formed in online transactions via many potential applications in most of the sectors like healthcare, financial services, intellectual property and energy, more countries are expected to be a part of the blockchain revolution in near future. 
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