June 22 (Cointime) - The EU's regulatory framework for digital assets, particularly the MiCA regulations, has made it an attractive destination for US crypto firms seeking stability and innovation.

Switzerland's Block Green and US-based Merkle Standard have partnered to transform Bitcoin mining financing. The deal allows Merkle Standard to use Block Green's platform for hedging future revenue risks and accessing immediate liquidity at favourable rates.

Switzerland's Social Democratic Party has suggested capping the size of UBS's assets after its acquisition of Credit Suisse, citing the risks posed to the country by the combined bank's balance sheet, which is estimated to be around 1.5tn Swiss francs. The party has proposed an upper limit on the bank's assets, suggesting they should not exceed half of Switzerland's GDP. This would require UBS to reduce its assets to a quarter of their current level. The proposal reflects the ongoing debate on balancing growth and stability in the banking sector and offers an opportunity for policymakers to reassess the regulatory framework.

Switzerland is at the forefront of NFT innovation, with organizations like NFT Think Tank and the Swiss Metaverse association leading the way. Despite the recent drop in NFT prices, Swiss startups, corporations, universities, and non-profit organizations are still experimenting with NFT technology and exploring its possibilities.

A recent study has shown that Switzerland is leading the way in crypto adoption in Europe, with one in five Swiss owning cryptocurrency. The country's favorable regulatory framework and cutting-edge infrastructure have attracted blockchain enthusiasts, and its crypto-valley in the canton of Zug is home to over a thousand cryptocurrency and blockchain startups.

According to data from BitcoinCasinos.com, Switzerland has the highest adoption rate of cryptocurrencies in Europe, reaching 21% in 2023. The Netherlands ranked second with 19%, followed by Norway with 17%. Belgium and Ireland also made it to the top five list, with 16% of their population using or owning digital coins. In contrast, the UK and Germany had a 12% adoption rate in 2023, while France and Italy followed with 11%.

According to Cambridge University’s Centre for Alternative Finance (CCAF), the Ethereum network’s energy consumption came in at a total of 58.26 Terawatt hours (TWh) between 2015 and the date of the Merge – the network’s transition from Proof-of-Work to the Proof-of-Stake consensus mechanism – in September 2022.

Lugano has been actively embracing cryptocurrencies and is working towards becoming a hub for digital assets.

MicroStrategy buys another 1,045 Bitcoin for $29.3 million, taking its total holdings to 140,000 BTC worth over $12.6 billion.

Switzerland's fifth-largest financial services firm, PostFinance, is partnering with regulated digital asset services provider Sygnum Bank to offer its 2.5 million customers access to cryptocurrency. Customers will be able to buy, store and sell leading cryptocurrencies such as bitcoin and ether, with more crypto-tokens to be added later. The decision to branch into crypto was driven by outflows from retail banks in Switzerland into the digital asset class. PostFinance's move into crypto is in stark contrast to the US, where there is a concerted effort to stamp out cryptocurrency. Sygnum Bank has a banking license from Swiss regulators and caters to a range of institutions, including Cantonal banks and private banks.