DLT / blockchain / tokenisation

Switzerland is one of the leading locations in the area of distributed ledger technology (DLT) and blockchain. Especially in the financial sector, a growing fintech and blockchain ecosystem has developed in Switzerland. For Switzerland as a business location, it is crucial for the legal framework to enable innovation and for new technologies to be able to thrive. At the same time, Switzerland's integrity and good reputation as a business location must continue to be guaranteed in this area too.

Switzerland has one of the most advanced financial centres in the fintech and blockchain sector, with over 1,000 companies and innovation-friendly framework conditions. The financial centre's integrity is crucial for Switzerland. It attaches importance to ensuring that the same rules apply to cryptocurrencies as to real monetary assets, e.g. in the area of combating money laundering. Switzerland is actively committed to the speedy international implementation of the relevant international standards, to ensure that there are no legal loopholes or havens for criminal transactions.

On 1 August 2021, it was one of the first countries in the world to bring statutory regulations for blockchain technology into force. This creates legal certainty and enables innovation and growth.

On 22 October 2025, the Federal Council initiated the consultation on an amendment to the Financial Institutions Act. The bill is aimed at improving the framework conditions for the market development, the attractiveness of the Swiss financial centre and integration of innovative financial technologies into the existing financial system. At the same time, it should limit related risks to financial stability, integrity, and investor and consumer protection. For more information see:
Press release
Fact Sheet Stablecoins

Fact Sheet Crypto

• DLT report

  In the report published in December 2018, the Federal Council analysed the relevant legal framework conditions for distributed ledger technology (DLT) and blockchain in Switzerland and derived the next steps from this.

  • Federal Council report "Legal basis for distributed ledger technology and blockchain in Switzerland"

    PDF2.06 MB14 December 2018

• Legal basis

  The Federal Act on the Adaptation of Federal Legislation to Developments in Digital Ledger Technology (DLT Act) and the associated blanket ordinance came into force on 1 August 2021. With the DLT Act, Switzerland has created legal certainty for tokenised assets and trading venues. The Act enables the issuance of securities on blockchain and the licensing of trading venues for this purpose, making the Swiss financial centre more attractive to fintech and crypto companies.

  Act
  Blanket ordinance
  Explanatory report on the blanket ordinance

• Analysis of money laundering risks

  On 14 December 2018, the Federal Council took note of a report by the interdepartmental coordinating group on combating money laundering and the financing of terrorism (CGMF) on the money laundering and terrorist financing risks posed by cryptoassets and crowdfunding. The analysis showed that crypto-based assets pose a threat in the area of money laundering and terrorist financing. Due to the small number of cases, the real risk in Switzerland cannot be estimated conclusively.

  CGMF report “Risk of money laundering and terrorist financing posed by cryptoassets and crowdfunding”

• Press releases

  22 October 2025
  Federal Council moves forward with stablecoins and crypto: consultation launched
  During its meeting on 22 October 2025, the Federal Council initiated the consultation on an amendment to the Financial Institutions Act. The bill is aimed at improving the framework conditions for the market development, the attractiveness of the Swiss financial centre and integration of innovative financial technologies into the existing financial system. At the same time, it should mitigate related risks to financial stability, integrity, and investor and consumer protection. The consultation will run until 6 February 2026.

  18 June 2021
  Federal Council brings DLT Act fully into force and issues ordinance
  During its meeting on 18 June 2021, the Federal Council brought the Federal Act on the Adaptation of Federal Law to Developments in Distributed Electronic Register Technology fully into force as of 1 August 2021. The associated blanket ordinance is also to enter into force on the same day. This will allow for innovative DLT trading facilities and increase legal certainty in the event of bankruptcy.

  11 December 2020
  Federal Council brings part of DLT bill into force
  During its meeting on 11 December 2020, the Federal Council brought into force, with effect from 1 February 2021, the parts of the DLT bill that enable ledger-based securities to be introduced. In addition, from that date, the ombudsman affiliation requirement will apply only to those financial service providers that serve private clients.

  14 December 2018
  Federal Council wants to further improve framework conditions for blockchain/DLT
  During its meeting on 7 December 2018, the Federal Council adopted a report on the legal framework for blockchain and distributed ledger technology (DLT) in the financial sector. The report shows that Switzerland's legal framework is well suited to dealing with new technologies, including blockchain. Nevertheless, there is still a need for selective adjustments. The Federal Council also noted the analysis of an interdepartmental working group on the money laundering and terrorist financing risks posed by cryptoassets.

• Selected initiatives in the fintech ecosystem

  BX Digital DLT trading facility (2025)
  First DLT system for tokenised securities, licensed by FINMA.
  Relevance: Confirmation of the success of the DLT framework: innovation is enabled while maintaining high standards of stability and investor protection.

  CMTA Token (2025)
  The CMTA Token (CMTAT) is a framework enabling the tokenisation of equity and debt securities, including structured products.
  Relevance: The framework addresses the lack of standardisation of smart contracts and provides a technology-neutral, open source and scalable solution for issuers and users of such products.

  Digital CHF bond (2024)
  The World Bank, in collaboration with the Swiss National Bank (SNB) and SIX Digital Exchange (SDX), issued a CHF 200 million digital bond.
  Relevance: This was the first CHF digital bond by an international issuer with settlement in Swiss francs using central bank digital currency provided by the Swiss National Bank (SNB) – a milestone for the digitalisation of the capital markets.

  SIX Digital Exchange (SDX) (2021)
  Fully regulated digital stock exchange and central securities depository.
  Relevance: SDX was one of the first regulated crypto exchanges in the world. The platform provides trading, settlement and custody infrastructure for tokenised assets under Swiss law.

  SNB projects Helvetia and Jura (since 2020)
  Research into wholesale central bank digital currencies (wCBDCs) for the efficient and secure trading of tokenised assets – in some cases also in a cross-border context.
  Relevance: The projects have demonstrated the technical feasibility of settling tokenised assets in central bank money and using them for cross-border payments. The projects are paving the way for one day being able to seamlessly connect financial market infrastructures to DLT, potentially boosting efficiency and security.

• Projects

  Regulatory project – stablecoins and digital assets (2023-2026)
  In October 2025, the Federal Council initiated the consultation on an amendment to the Financial Institutions Act. The bill is aimed at improving the framework conditions for the market development, the attractiveness of the Swiss financial centre and integration of innovative financial technologies into the existing financial system. At the same time, it should limit related risks to financial stability, integrity, and investor and consumer protection. For more information see:
  Press release
  Fact Sheet Stablecoins