At a meeting on Nov. 27, the Federal Council – the executive body that constitutes the federal government – adopted a proposal to improve the legislative framework for the nascent technology. According to a notice from Switzerland’s federal finance department, the move is aimed at “increasing legal certainty, removing barriers for applications based on distributed ledger technology (DLT) and reducing the risk of abuse.”

The legislation, developed as a “blanket framework,” proposes amendments to nine federal acts across civil and financial market law, according to the announcement.

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