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ARTICLE · 06 DECEMBER 2019

Swiss Federal Council Publishes Draft Framework Legislation Governing Applications Of DLT/Blockchain Technology

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On 27 November 2019, the Federal Council published the draft bill for a new Federal Act regarding the Adaptation of Federal Law to Developments in the Technology of Distributed Electronic Registers...

SwitzerlandTechnology
Daniel Flühmann
Daniel Flühmann
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On 27 November 2019, the Federal Council published the draft bill for a new Federal Act regarding the Adaptation of Federal Law to Developments in the Technology of Distributed Electronic Registers (the "Draft DLT Act") along with the accompanying dispatch and a report on the results of the consultation process that ended in June this year.1 The proposed new law is a framework act intended to introduce pinpoint amendments to Swiss law to provide more legal certainty to business applications of distributed ledger technology (DLT). In its media release, the Federal Council emphasises that it aims to create the best possible conditions for Switzerland to evolve as a leading, innovative and sustainable location for fintech and DLT companies while at the same time taking a firm stance against any potential abuse of the new technologies. The Federal Council considers that specific amendments to the legal framework in key areas are sufficient to achieve these goals and has

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