Swiss Federal Council has offered to improve the legislation of distributed ledger technologies (DLT) in order to determine technologies` legal status and remove barriers for their usage – BitcoinDoubler2x has found out.
In December of the previous year, the Council presented a report about blockchain regulation in the financial sector, which said that Switzerland is aimed to create the best conditions for new technologies` development to make the country being the leader in the field of fintech, blockchain and digital innovations.
The Council proposes both to adapt the federal laws for projects rking with development in blockchain industry and at the same time to avoid the risk of cryptocurrency usage for illegal purposes. In such a way, the council revised the last year’s report and presented the number of amendments to nine federal laws covering civil law and the financial market. The parliament will consider this offer at the beginning of next year.
It is known that Switzerland is loyal to cryptocurrency and blockchain. Country`s attitude is proved by the fact that in October the Swiss National Bank and the Bank for International Settlements have signed the agreement about cooperation, within that the banks will study state cryptocurrencies and their integration into distributed registry infrastructure.