The Swiss DLT Act entered into force (final provisions, DLT trading facility) on:
Explanation
1 February 2021
The DLT Act amended how many existing Swiss federal laws?
Explanation
9 CO, Banking Act, FMIA, CISA, and others; no new standalone law created
Under the DLT Act, a “DLT security” is:
Explanation
New category in Swiss Code of Obligations with same legal force as traditional securities
What is the primary consumer protection innovation of the DLT Act regarding insolvency?
Explanation
Segregation: client crypto is not owned by the custodian; never absorbed into the creditor pool
The DLT trading facility licence (new FINMA category under DLT Act) was first granted to:
Explanation
SDX first regulated DLT securities exchange globally
The FINMA Regulatory Sandbox allows a startup to accept deposits without a licence up to:
Explanation
CHF 1M max 20 clients, 12 months duration, no FINMA licence required
The FINMA Fintech Licence (Tier 2) requires minimum capital of:
Explanation
CHF 300k allows up to CHF 100M deposits without maturity transformation
Amina Bank and Sygnum Bank hold which FINMA licence tier?
Explanation
Tier 3 Full Banking Licence first crypto-native banks globally to receive it (2019)
A FINMA no-action letter is best described as:
Explanation
10 business days (typically), free, binding; the most practical tool for reducing legal uncertainty
FINMA’s 2018 token taxonomy classifies tokens that represent ownership of assets or profit rights as:
Explanation
Asset tokens full securities law applies; require prospectus for public offers
SDX achieves “T+0 settlement.” In traditional securities markets, the standard settlement period is:
Explanation
T+2 SDX reduces this to same-day, eliminating 2 days of counterparty risk
Project Helvetia (SNB + BIS + SDX) demonstrated that:
Explanation
Phase 3 (2023–24): live settlement of real bonds using SNB wCBDC, first globally
Why did Switzerland choose wholesale CBDC rather than retail CBDC?
Explanation
SNB’s stated reasoning: protect commercial banks’ deposit-taking function
The Swiss Federal Council rejected the Libra/Diem stablecoin project in 2020 primarily because:
Explanation
Libra threatened monetary sovereignty: a private global stablecoin controlled by Facebook would compete with the CHF
SIF’s target for tokenised assets in Switzerland by 2030 is approximately:
Explanation
CHF 100B Pillar 8 (Asset Tokenisation) target from December 2025 strategy
The US approach to crypto regulation is best characterised as:
Explanation
Archetype 2 (Enforce-first) apply existing law (Howey 1946); let courts define crypto categories
The key difference between Switzerland and MiCA regarding legal certainty timing is:
Explanation
Both provide pre-launch category certainty; Switzerland’s advantage is FINMA proportionality and no-action speed
FATF grey-listing of a jurisdiction typically causes crypto firms to:
Explanation
Grey-listing triggers enhanced due diligence from foreign banks; disrupts fiat on/off ramps
Switzerland’s DLT Act insolvency segregation provision directly addresses which historical crypto failure?
Explanation
FTX DLT Act segregation is the legal mechanism that makes an FTX-style loss legally impossible in Switzerland
The central thesis of the Swiss Digital Finance Strategy is best summarised as:
Explanation
“Not permissive: CLEAR. Legal certainty is the product.”
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