Switzerland: Partial implementation of DLT Law

On 1 February 2021, the Swiss Distributed Ledger Technology (DLT) Law partially came into force. The remaining provisions will come into force on 1 August 2021. The DLT Law adjusts various federal laws. The DLT Law introduces a new licensing category for trading venues specialising in digital assets, known as DLT Trading Facilities. It further offers simplified regulatory requirements for digital asset custody providers, resulting in most custody services no longer requiring a full Banking License but a FinTech License. Additionally, the new law introduced "Uncertificated Register Securities" and new rules for corporations looking to issue shares in a tokenised form.