Switzerland’s Federal Council has fully implemented new rules on distributed ledger technology (DLT)-based trading and blockchain solutions.
The governing body fully entered into force the Federal Act on the Adaptation of Federal Law to Developments in Distributed Electronic Register Technology.
Alongside this, the associated blanker ordinance will enter into force, which will allow for innovative DLT trading facilities and increase legal certainty in the event of bankruptcy, it said.
Last year, the Swiss Parliament passed its DLT blanket act, which adapts ten existing federal laws. The legislation improves conditions for blockchain and DLT companies in the country. It claims this will help make Switzerland an international pioneer in regulation for innovative financial market technologies.
A key change of the regulation will be the introduction of a licence for DLT trading facilities.
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