The federal government and the Blockchain Taskforce

Read the PDF edition (2 pages)

The federal government also took up the subject. In January 2018, the Federal Department of Finance set up a working group on blockchain and ICOs. A private Blockchain Taskforce under the patronage of two Federal Councillors, in which representatives of the industry, the banks, the cantons and academia took part, also examined the adaptation of Swiss law to the technology.¹ In December 2018, the Federal Council published a report on the legal framework for blockchain and distributed ledger technology in the financial sector, concluding that Swiss law was generally well suited to the new technologies but that targeted adaptations were needed in civil law, insolvency law and financial market law.² The report led to the Federal Act on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, adopted by Parliament on 25 September 2020, which entered into force in two stages in 2021. The Act introduced ledger-based securities into the Code of Obligations, provided for the segregation of crypto-assets in the bankruptcy of a custodian and created a new licence category for trading facilities for distributed ledger technology.³ Part H examines the Act in detail. For the history of Crypto Valley, its significance lies in the fact that Switzerland was among the first countries in the world to adapt its general civil and financial market law to the technology, with the Zug industry having contributed to its preparation through the Taskforce and the consultation.

Notes

swissblawg.ch, "EFD: Arbeitsgruppe Blockchain/ICO", January 2018: working group set up by the State Secretariat for International Finance (FDF) following motion 17.3818 Béglé, to report to the Federal Council by the end of 2018. NZZ, "Das Bankkonto soll nicht zum Stolperstein für Blockchain-Firmen werden", nzz.ch (ld.1364261): the Blockchain Taskforce is a private initiative of Crypto Valley entrepreneurs, political and scientific figures and bank representatives under the patronage of Federal Councillors Ueli Maurer and Johann Schneider-Ammann, with cantonal members from Zug, Zurich and Ticino. Netzwoche, 26 April 2018: white paper of the Taskforce. ↩
Federal Council, media release on the report on the legal framework for blockchain and distributed ledger technology, 14 December 2018, admin.ch: Switzerland's legal framework is well suited to dealing with new technologies, including blockchain, but targeted adjustments are needed; the report was prepared by an interdepartmental working group. The areas of adjustment are listed in the report itself, which has not been re-checked here. ↩
Federal Act on the Adaptation of Federal Law to Developments in Distributed Ledger Technology of 25 September 2020 (DLT Act, AS 2021 33); civil law provisions (Art. 973d ff. OR) in force since 1 February 2021 (see the footnote on Art. 973d OR below). Federal Council, press release "Der Bundesrat setzt DLT-Gesetz vollständig in Kraft", 18 June 2021, admin.ch/de/nsb?id=84035: remaining provisions in force on 1 August 2021, including the licence for DLT trading facilities and the segregation of crypto-assets in bankruptcy. Treated in Part H. ↩

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of October 2026.

English

Contact

Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

Get in touch →

The federal government and the Blockchain Taskforce

Notes

Setting up or expanding in Switzerland?