Biba Homsy and Gabriel Jaccard are delighted to share with you the latest Chambers publication, titled Blockchain 2025: Switzerland’, which provides an overview of the regulatory landscape of blockchain technology in Switzerland.
The article highlights the several important regulatory milestones, including the early adoption of a report on virtual currencies by the Swiss Federal Council as early as 2014, and the guidelines by the Swiss Financial Market Supervisory Authority (FINMA) on token classification in 2018. Switzerland has adopted a pragmatic and “technology-neutral” approach, applying the principle of “same business, same risks, same rules.”
Swiss blockchain legislation, often referred to as “Lex DLT,” introduced amendments to ten existing laws to account for developments in distributed ledger technology (DLT). This includes a framework for DLT rights, a new license for market infrastructures dedicated to trading DLT rights, and clear rules regarding tokens in the context of bankruptcy and insolvency.
The article also discusses the qualification of tokens under Swiss law, anti-money laundering regulations, corporate law, collective investment schemes, and the tax implications of tokens. Finally, it mentions the differences between Swiss law and European law, highlighting that Switzerland does not apply EU blockchain regulations such as MiCAR.
For more details, we invite you to read the full article here: Blockchain 2025: Switzerland
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