Update DLT Act: The Council of States also decides unanimously
On 10 September 2020, the Council of States (as the second chamber) also unanimously adopted the bill to amend a total of ten existing federal laws in civil and financial market law (DLT Act).
We are looking forward to the consultation draft of the Financial Market Infrastructure Ordinance (FMIO) that will now follow, which will also contain the thresholds for DLT trading systems, among other things. When drafting the amendments to the FinfraV, tact is now required: the prerequisites for DLT trading systems must be defined in such a way that interested companies have a real chance of fulfilling the requirements for operating a DLT trading system.
"We are now looking forward to seeing how the Federal Council regulates the details of the DLT Act in the consultation draft of the FMIO."
We will inform you as soon as the consultation draft of the FinfraV has been published.
We have already explained the most important features of the DLT Act in an earlier news report(DLT Act: National Council approves amendments to federal law) and we continue to assume that the amendments adopted with the DLT Act will enter into force in mid-2021.
For further information in the area of blockchain/DLT law, please contact Dr Hans Kuhn or Sebastian Wälti directly.