Switzerland: Federal Council closes consultation on amendment to Financial Institutions Act, including licensing for cryptocurrency institutions

On 6 February 2026, the Federal Council closes the consultation on the amendment to the Financial Institutions Act, including licensing for cryptocurrency institutions. The amendment introduces a new authorisation regime for cryptocurrency institutions. The amendment introduces a new authorisation regime for cryptocurrency institutions engaging in custody, trading, and staking of crypto assets with trading characteristics, extending beyond stablecoins and utility tokens. It allows crypto institutions to custody assets, trade on behalf of clients, conduct proprietary trading, and offer custodial staking services. Licensed entities must meet capital, liquidity, recordkeeping, segregation, and risk management obligations.