Switzerland is getting closer to regulating cryptocurrencies. The Swiss Federal Assembly, the body tasked with handling government legislation in the country, yesterday approved a motion requesting the Federal Council regulate cryptocurrencies. A loosely translated version of the press release said the Federal Council would now be responsible for “adapting the provisions on judicial and administrative procedural instruments so that they can also be applied to cryptocurrencies.” Additionally, the statement highlighted that cryptocurrencies‘ pseudo-anonymous nature favored extortion and money laundering. “It should be clarified how the risks could be contained and whether the persons responsible for the cryptocurrency trading platforms should be equated…

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