Share this article
Swiss Government Says It's 'Swiftly' Developing Digital Currency Rules
Switzerland’s government said today that it is "swiftly" moving toward a legal designation of digital currencies.
By Stan Higgins
Updated Sep 11, 2021, 1:31 p.m. Published Jul 11, 2017, 4:00 p.m.
Switzerland's government said today that it is "swiftly" moving toward a legal designation of digital currencies.
In a statement, the Swiss Federal Council – a body of seven that collectively serve as Switzerland's head of state – revealed the first major steps of its plans to regulate fintech development in the country. CoinDesk reported in February that the government was moving to put a legal framework for fintech in place. The new rules, approved on July 5, go into effect in August.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Among the initiatives launched today is a regulatory "sandbox" aimed at creating a more accommodative environment for startups. Firms that accept fewer than 1 million Swiss francs (roughly $1m USD) "will be exempt from authorization" the Federal Council said. The group clarified that depositors with these firms would not be covered under the country's deposit protection rules.
What remains unclear is precisely how the country will regulate digital currencies, though the government indicated that it wants to move quickly to put a "legal qualification" in place, stating:
"The Federal Council will continue to closely follow further developments in the areas of digitalisation and fintech, and examine further regulatory measures. The corresponding work, i.e. on clarifying the legal qualification of virtual currencies, has been taken over and is to be swiftly pursued."
The outcome of the process could have implications for both exchange startups working in the country as well some of the businesses that work with digital currencies, including Swiss rail service SBB, which began selling bitcoin through its ticket kiosks last fall.
Switzerland has emerged as a hub for startups working with the tech, and some of its municipal bodies have moved to integrate blockchain into their operations. Last week, the city of Zug revealed that it is launching a digital identity service that, beginning in September, will use technology developed by the ethereum development community ConsenSys and Swiss startup ti&m.
Image Credit: Roman Babakin / Shutterstock.com
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Más para ti
XRP Underperforms Market as Sudden Bitcoin Surge Forces $387M of Liquidations
XRP's technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion
Lo que debes saber:
- XRP posts gains but underperforms compared to the broader digital asset surge, with below-average trading volume raising questions about the move's strength.
- Bitcoin's rise above $94,000 triggered a broad market rebound, leading to significant liquidations and reshuffling of positions.
- XRP's technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion to confirm momentum alignment.
Top Stories
