Federal Council of Switzerland calls for better blockchain regulatory framework

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  • The Switzerland executive governing body wants there to be improved blockchain and DLT legislation.
  • Swiss parliament will be reviewing the proposal of changes in early 2020. 

The Swiss executive governing body, Federal Council of Switzerland is calling for a better regulatory framework for blockchain and distributed ledger technology (DLT) in the country. 

As per an official announcement released on Nov. 27, the Federal Council adopted a dispatch explaining its priorities for improving blockchain and DLT legislation. In terms of the proposal it is targeting legal certainty in the sector, in addition to eliminating barriers for blockchain-based applications and reducing the risk of abuse. 

The Council as a result are revising a report they initially released in December 2018 and have submitted a range of proposed amendments to a series of federal acts covering civil law and financial market law. The Swiss Parliament will be examining the proposal in early 2020.

 

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