Is crypto legal in Switzerland?
Cryptocurrency is legal in Switzerland, but subject to regulatory restrictions.
Western Europe · CH · 8 of 9 dimensions sourced
Switzerland crypto policy at a glance
Stage of the central bank digital currency programme — research, pilot, or launched.
Whether crypto is legal, restricted, or banned for individuals and businesses.
“There are no specific regulatory requirements for ICOs, however, certain aspects of ICOs do fall under financial-market law. … The issue of payment tokens is subject to AMLA provisions as a rule.”
Whether the jurisdiction licenses crypto/VASP service providers.
“The FinTech licence allows institutions to accept public deposits of up to CHF 100 million or cryptobased assets, provided that these are not invested and no interest is paid on them.”
Rules governing stablecoin and e-money-token issuance.
“Various issuers of stablecoins in Switzerland use default guarantees from banks ... FINMA provides information on its minimum requirements for default guarantees in order to protect depositors.”
How crypto gains are taxed and reported, including OECD CARF participation.
“Die aus solchen Transaktionen resultierenden Gewinne und Verluste stellen bei natuerlichen Personen im Privatvermoegen grundsaetzlich steuerfreie Kapitalgewinne ... dar.”
How decentralized finance (DeFi) is treated by regulators.
“FINMA is observing increased activity in the area of decentralised finance (DeFi), in which financial services are provided using automated protocols on public blockchains. The same rules must be applied to DeFi services that apply to traditional financial services if they create the same risks.”
Whether NFTs are addressed in regulation.
“Non-fungible tokens (NFTs) that represent unique digital assets are generally not considered payment tokens. However, depending on their economic function, NFTs may qualify as securities or as financial instruments under financial market law.”
Policy toward crypto mining — permitted, restricted, or banned.
Intensity of regulatory enforcement actions against crypto firms.
“FINMA has conducted enforcement proceedings in the area of blockchain and cryptoassets, including against providers of unauthorised services.”
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