SFTI position paper on DLT legislation

On June 10, 2020 the National Council, as the first chamber of parliament, will debate the new Distributed Ledger Technology (DLT) legislation. This is the new legal framework for legally valid transactions on Distributed Ledgers (better known as “Blockchain”). The aim of this legislation is to increase legal certainty, remove obstacles to applications based on DLT and limit the risk of abuse. This will significantly improve the conditions for Switzerland to develop further as a leading, innovative and sustainable location for Blockchain/DLT companies.

SFTI recommends the bill to be adopted (including the two points on data access and the ombudsman’s office that were adapted by the commission that conducted the preliminary consultations).

The working group “Regulations“, which deals with legislation and regulation relating to innovation and digitisation in the financial industry, has drafted a position paper for the attention of Parliament.

As early as October 3, 2018 in the FDF’s first consultation and on June 21, 2019 the working group issued a detailed response to the draft in the course of the consultation procedure and on November 28, 2019 issued an initial assessment of the draft and the message.