On 19 October 2020, the Swiss Federal Department of Finance (FDF) began the consultation on blanket blockchain rules and regulations.This is a continuation of Switzerland’s recent efforts to regulate blockchain and distributed ledger technology (DLT) without stifling innovation.
In late September this year, the Swiss Parliament unanimously approved a Federal Act on the Adaptation of Federal Law to Developments in DLT, which amends several provisions in ten existing laws. This Act aimed to allow Switzerland to continue developing as a leading country for blockchain and DLT companies. To incorporate these amendments into law, a prior consultation with interested parties is needed.
According to the FDF’s consultation procedure report, the amendments suggested by the Parliament can be summarized as follows:
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