Switzerland’s decentralized, bottom-up political culture is a natural fit for crypto technologies: In 2018, the Swiss Financial Market Supervisory Authority FINMA became the first regulator in the world to publish clear guidelines on ICOs and classifications for tokens. The Swiss authorities’ pragmatic approach has led to particularly favorable conditions for blockchain companies, which have in turn created a flourishing ecosystem that fosters a wide range of world’s firsts: in 2016, Zug became the first city in the world to accept Bitcoin payments for tax purposes; in 2018, the fintech company 21Shares, formerly known as Amun, launched the world’s first crypto exchange-traded products (ETPs) on the Swiss Stock Exchange; and in 2019, FINMA granted banking licenses to Swiss-based SEBA and Sygnum, making them the world’s first crypto banks.
In 2021, the new DLT Framework came into force, giving Switzerland one of the world’s most forward-looking legislation by creating space for innovative projects and entirely new business models in the digital and decentralized world.
