At its meeting on November 27, 2019, the Federal Council adopted the dispatch on further improving the framework conditions for Blockchain/DLT and sent the legislative proposal to the Parliament. The legislative proposal is intended to amend a total of ten federal laws (in particular civil and financial market law). The aim is to increase legal certainty, remove obstacles to applications based on Distributed Ledger Technology (DLT) and limit the risk of misuse.
Our working group Regulations has already commented in detail on this proposal in the first consultation of the FDF (Federal Department of Finance) on October 3, 2018 (full statement) and in the consultation on June 21, 2019 (full statement).
SFTI supports the objectives of the proposal as well as the priorities and regulatory approaches chosen. Within these selected approaches, we still saw potential for improvement in various areas. An initial review of the proposal, which has now been sent to the Parliament, shows that many of the points listed have been significantly improved.
Here you can read our brief initial assessment.