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The Swiss are on the verge of increasing legal certainty as they announce they have entered a consultation process of blockchain law which will end in June.

In December, a Federal Council ruled the existing legal framework would require just a few minor adjustments to be suitable for the implementation of blockchain in the financial sector. Then, yesterday, The Swiss Federal Assembly approved a motion to give orders to the Federal Council to include cryptocurrencies in its existing legislation

A document was created which proposed the adjustments needed to remedy these issues. It required the laying out digital registration rights and dealing with issues surrounding what happens in the event of crypto asset bankruptcy, alongside the DLT trading facilities.

The Swiss Federal council will now spend the months leading up to June hashing out these issues in an attempt to provide some legal clarity surrounding blockchain in their country.

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