30/11/19 01:09 UTC-5

The Swiss Federal Council called for improving the regulatory framework for the blockchain

The Swiss Federal Council called on the country to improve the regulatory framework of distributed ledger technology (DLT).


An explanation of the position of the authorities

In an official report, the Federal Council said that it wants to create the best conditions so that Switzerland can establish itself and develop as a leading innovative place for fintech and blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
companies. In addition, they emphasized that they are constantly struggling with abuses in this area in orderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details
to ensure stability and a good reputation of the country as a financial and business center.

The latest cryptocurrency news says that they aim to complement the existing DLT legal framework. The Council revised the initial report of 2018, and presented a list of amendments to nine federal laws covering both civil law and financial market legislation. The Swiss parliament plans to consider the proposal in the first quarter of 2020.

Interesting in the section: Financial geography. Cryptocurrencies in Sweden

See also: "Former CEO of UBS has created a platform for issuing digital securities"

#Council #Switzerland #legislation #blockchain #DLT #finance #market

Editor: Alyona Deryabina