Switzerland and Israel have consented to share their experience on regulating the blockchain industry.

This is according to a report on Reuters, which cited both nations’ top brass.

Switzerland’s Minister of Finance Ueli Maurer and State Secretary for International Financial Matters Joerg Gasser visited Israel to officially request access to the local markets for Swiss banks.

According to the report, by the end of 2018, Gasser plans to prepare a report on blockchain regulation for the Israeli officials that would cite general recommendations. He expects that these notes might be sanctioned by the Israeli parliament in 2019 and be implemented by early 2020.

The Ministry of Finance has said in a statement that both nations had settled to share notes on fintech regulation, which also include guidelines on cryptocurrencies and battling money laundering.

Israel has several projects that make use of blockchain technology in one capacity or another. Selva Ozelli, a foreign tax attorney and certified public accountant (CPA), evaluated local blockchain plans such as an open government platform for elections, a blockchain-based drone registry and a national cryptocurrency.

Switzerland is actively fine-tuning its existing legislation to assimilate blockchain projects in everyday life. As part of these efforts, the country has setup a so-called Crypto Valley that can be found in the canton of Zug where various blockchain solutions are being worked on.