Blockchain Law Enters Into Force In Switzerland

On February 1, the first part of the blockchain law came into force in Switzerland. In September 2020, the country's parliament adopted an expanded regulatory framework aimed at improving regulation of the growing cryptoasset market. The law regulates the issuance of tokenized securities.

Brokerage company Crypto Broker AG announced that it received a license from the Swiss Financial Market Supervisory Authority (FINMA). The license will allow the brokerage company to offer tokenized securities to its clients. The FINMA license was also received by SEBA and the Sygnum crypto bank.

The second part of the law will enter into force in August this year and will deal with a broader update of the country's financial infrastructure and regulate the activities of crypto exchanges.

Image: Crypto Millionaire