Switzerland: Implemented sanctions against Russia including freezing of crypto assets
Description
Implemented sanctions against Russia including freezing of crypto assets
On 4 March 2022, the Swiss Federal Council implemented the a law enacting the sanctions imposed by the EU on Russia and Belarus as a response to the Russian invasion of Ukraine. The assets and economic resources of designated individuals and companies are frozen, including crypto assets. The sanctions target the Russian Government, the Russian Central Bank, the entities possessed by them, the Russian National Wealth Fund and a variety of individuals connected to the Russian Government.
Original sourceScope
Policy Area
Other operating conditions
Policy Instrument
Other operating condition, nes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central government
Complete timeline of this policy change
Key regulatory dimensions
Regulated subjects
The businesses, government agencies or individuals affected by this policy or regulatory change.
3rd party
1
Type
Private individual
Economic activity
Category
Location-specific
2
Type
Governmental organisation
Economic activity
Category
State-owned organisation
Policy change by business practice
The detailed activities within the scope of this policy or regulatory change.
cryptoasset: currency: sale
Regulatory tool
Sanctions
Website or service access blocking
Suspension of business
Regulated subjects
1 2
all goods (physical or digital): sale
Regulatory tool
Sanctions
Website or service access blocking
Suspension of business
Regulated subjects
1 2