Legendary United States crypto investor Tim Draper believes Switzerland has missed the boat in establishing itself as an attractive global hub for blockchain start-ups. Draper has invested in Tezos, which ran into a damaging governance row in Switzerland shortly after its initial coin offering (ICO) fundraiser.
Addressing the Crypto ICO summit in Zurich by Skype link, Draper said Switzerland had put off investors with heavy-handed regulation. “You [Switzerland] had the tiger by the tail, everyone was going to do their ICOs through you, and all you had to do was make it easier for everybody,” he said.
“Instead, the regulatory bodies got in there, they made it tougher, they put more and more barriers up, so people went to Singapore and Gibraltar and Cayman and to other places,” he added.
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