Zug is a small province of Switzerland that is also known as “Crypto Valley”, due to its pro-fintech and startup encouraging jurisdictions and its accommodating laws and regulations that promotes innovation and new technologies.
Thanks to its business-friendly regulatory framework, deep talent pool and sophisticated infrastructure, Crypto Valley is quickly becoming a global center where emerging cryptographic, Blockchain and other distributed ledger technologies and businesses can thrive in a safe, supportive, and vibrant environment. It has already attracted dozens of leading cryptographic companies and organizations, including Ethereum, Monetas, Bitcoin Suisse, Xapo, ShapeShift, ConsenSys, and Tezos.
Oliver Bussman, the leader of the Crypto Valley Association explained in a press release: “Blockchain and cryptographic related technologies and businesses are the wave of the future,” […] “With the founding of Crypto Valley Association, we are promoting more than a region: we have founded a global association as a base for the sector’s most innovative and forward thinking companies, further strengthening Switzerland’s position as a leading center of innovation in this sector.”
Another fact about Zug is that it started accepting Bitcoin in July 2016, as payment for city fees. At the end of the year the project was reevaluated and the city council decided to maintain and extend this program, that means that the project worked well. Dolfi Muller, the Mayor of Zug said recently in an interview: “It’s a revolution coming, and Crypto-Valley is part of it”