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Crypto boom or crisis? The Crypto Valley in ups and downs!
The crypto industry in Switzerland is growing despite regulatory challenges. Latest developments in Crypto Valley and global trends.
Crypto boom or crisis? The Crypto Valley in ups and downs!
The crypto industry in Switzerland is showing remarkable growth despite regulatory challenges. According to the CV VC Crypto Valley Company & Industry Report, the number of blockchain companies in Crypto Valley increased by 14% last year to 1,749, representing an impressive 132% increase since 2020. This growth is primarily recorded in the canton of Zug, which is still considered the center of Crypto Valley. Other important locations are Zurich, Geneva, Ticino and Neuchâtel. Overall, the Crypto Valley covers the entire Switzerland and Liechtenstein.
At the Point Zero Conference in May 2025, a manifesto to strengthen Switzerland's financial center was presented. In this context, the Swiss Blockchain Federation, the Crypto Valley Association and the Bitcoin Association Switzerland presented a 12-point program that aims to consolidate Switzerland as a blockchain location. The first point of the program calls on the Swiss Financial Market Supervisory Authority (Finma) to pursue innovation promotion as a strategic goal.
Regulatory uncertainties as an obstacle
Despite the positive figures, entrepreneurs from the crypto industry criticize the worsening regulatory conditions in Switzerland. Mathias Ruch from CV VC notes that there is a lack of optimism in politics and society, while Daniel Diemers from SNGLR Group notes that the uniqueness of Crypto Valley has been lost. Regulatory uncertainties and lengthy processes are generally perceived as obstacles to the growth of the industry.
The market also shows notable developments in various regions. Zug remains the center of growth with 719 companies (41%), followed by Zurich and Ticino. Nevertheless, trend topics such as artificial intelligence, metaverse, mining or memecoins are rather underrepresented in the current report. However, the high proportion of audit and consulting services in Switzerland is considered an advantage. Another problem is the lack of industries such as crypto exchanges and stablecoins, as regulatory restrictions prevent Switzerland from launching global stablecoins.
Global developments surrounding crypto regulation
The regulatory framework for cryptocurrencies is changing not only in Switzerland but also worldwide. Crypto skeptics continue to call for bans on blockchain-based currencies in many countries. In the EU, the MiCA Regulation has been adopted, a comprehensive set of rules for regulating crypto assets, which will come into force from 2024. This development shows that complete bans are becoming less common and sensible guidelines are becoming more important.
Switzerland positioned itself positively towards cryptocurrencies early on and is considered a global market leader. Crypto exchanges and custody services are legal and regulated by FINMA. Banks such as Swissquote, Zuger Kantonalbank and crypto banks such as SEBA and Sygnum are actively involved in the market.
In the international context, the developments are also noteworthy. In the US, for example, cryptocurrency regulation is still being developed, while the Biden administration clarified the use and regulation of cryptocurrencies in 2022. In Asia, the regulatory framework varies greatly; While India has moved from a ban to considering regulation, China has officially banned cryptocurrencies but is opening up through licenses in Hong Kong.
With its finger on the pulse of a dynamic market, Switzerland remains an important player in the global competitive environment despite the challenges of the crypto industry. How the regulatory conditions will continue to develop remains exciting.