Blockchain Regulation

Liechtenstein and Switzerland

DALAW involved in setting regulatory standards

DALAW involved in setting regulatory standards

Liechtenstein and Switzerland are among the most hospitable jurisdictions for blockchain companies and applications. Both jurisdictions have therefore amended laws and regulations to create a favorable framework and remove obstacles for blockchain applications. Liechtenstein’s Landtag adopted an Act on Tokens and Trusted Technologies (TVTG) on 3 October 2019; it became effective on 1 January 2020. In Switzerland, the parliament is currently considering a framework act which will amend nine existing acts in order to remove obstacles for blockchain applications. A key component is a introduction of fully digitized securities – dubbed register securities – by way of an amendment to the Code of Obligations.

DALAW partner Hans Kuhn was involved in both projects. He advised the Liechtenstein working group preparing the TVTG, in particular on the securities law framework for tokens (articles 3 seq. TVTG, § xxx PGR). In Switzerland he was a member of various working groups, advising on the concepts of register securities (articles 973d seq. CO). He is also a member of a working group which is preparing regulation on DLT trading platforms.

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