With 195 votes in favor, none against and no abstention, the Swiss parliament says ‘yes’ to blockchain regulations and technology-powered Swiss future

With 195 votes in favor, none against and no abstention, the Swiss parliament says ‘yes’ to blockchain regulations and technology-powered Swiss future

Monday, 5 October, 2020

As blockchain and distributed ledger technology (DLT) continue to gain popularity worldwide, the Swiss parliament is one step ahead of everyone, updating financial regulations to address the legal status of blockchain and distributed ledger technology (DLT). Although regulations will come into power only next year, it is a huge step forward for the country. As existing laws were amended to welcome new technologies into the economy, blockchain’s uncertain legal status will no longer be an issue. Crypto assets will be also included in bankruptcy laws to ensure a secure and regulated market for all assets.  For Swiss blockchain communities, the new era has just begun. Swiss approach remains to be technology-neutral. 

 

Sources:

https://www.parlament.ch/poly/AbstimmungSR/51/out/Abstimmung_51_3725.pdf

https://www.swissinfo.ch/eng/swiss-law-reforms-make-crypto-respectable/46024124

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