Switzerland to Regulate Blockchain Within Existing Financial Laws
CoinDesk
Published Dec 17, 2018 04:01AM ET
Updated Dec 17, 2018 04:15AM ET
The government of Switzerland wants to accommodate the blockchain sector within its existing financial laws.
The country’s Federal Council issued a report on Friday, providing a legal framework for distributed ledger technology (DLT), or blockchain,, stating that Switzerland's existing rules are well suited to dealing with such new technologies, but there is still a need for some amendments.
Firstly, the council has proposed an amendment to the country’s securities law to increase the legal certainty of crypto tokens. “Since an entry in a decentralised register accessible to interested parties can create publicity similar to the ownership of a security, it seems justified to attach similar legal effects to this entry,” the highest executive authority of the Swiss Confederation explained.
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