The Swiss Blockchain Federation, the Crypto Valley Association, and the Bitcoin Association Switzerland have collaborated to release a strategic manifesto with the goal of solidifying and enhancing Switzerland’s position as a global hub for blockchain and financial innovation.
The manifesto, structured as a 12-point program, thoroughly examines the current state of affairs, identifying the strengths and weaknesses of the Swiss financial sector, and offering specific recommendations to policymakers, regulators, and industry stakeholders.
Switzerland: a forward-thinking strategy for crypto and blockchain technology
Switzerland has gained global recognition for its progressive approach to blockchain technologies, supported by a regulatory framework that fosters innovation, collaboration between public and private entities, and a government receptive to new ideas. However, this competitive edge is at risk of diminishing.
Countries in Asia and the Middle East are rapidly emerging as attractive destinations for blockchain companies due to their favorable regulations and business environment. Additionally, shifting political dynamics under the Trump administration have raised concerns for Europe and Switzerland. Compounded by slow decision-making processes, regulatory ambiguity, and international pressures, these challenges pose significant hurdles for the sector.
To address these issues, the three organizations behind the manifesto propose a coordinated and proactive strategy to ensure Switzerland maintains its reputation as a hub for technological innovation and economic competitiveness.
The 12 recommendations for a stronger blockchain ecosystem
The manifesto outlines twelve specific recommendations aimed at bolstering Switzerland’s position as a global leader in blockchain and fintech. Each proposal targets a distinct aspect of the industry, with the aim of creating a more dynamic, transparent, and competitive landscape.
1. Enhance regulatory frameworks to support innovation
FINMA should prioritize innovation as a strategic goal and provide regular updates on progress in this area.
2. Implement technologically neutral and proportionate regulations
Clear, competitive regulations for crypto service providers and stablecoins are essential to foster sector growth.
3. Establish binding timelines for FINMA authorizations
Authorization processes should adhere to a clear and predictable structure, with a maximum six-month timeframe for completion.
4. Promote digital currencies
Stablecoins and central bank digital currencies (CBDCs) are fundamental for a modern, secure digital economy.
5. Utilize technology for compliance
Innovative technologies can streamline compliance processes, reducing costs for businesses.
6. Strengthen self-regulation
Self-regulatory organizations (SROs) should have greater autonomy to adapt to market changes swiftly.
7. Enhance transparency in supervisory practices
FINMA should engage in a more transparent dialogue with the industry to build trust among operators.
8. Eliminate technical barriers to investments
Identifying and reducing obstacles to foreign investments will facilitate access to the Swiss market.
9. Clarify ambiguous regulations
Unclear regulations should be reviewed through constructive dialogue between authorities and industry stakeholders to ensure legal certainty.
10. Evaluate international standards critically
The adoption of international standards in Swiss law should align with national interests.
11. Encourage industry-led initiatives
The private sector should play an active role in developing industry standards and addressing existing challenges.
12. Enhance financing for startups and SMEs
Expanding public support programs and tax incentives will facilitate access to capital for startups and small to medium enterprises.
An open call for collaboration
The manifesto serves as an invitation for all organizations interested in contributing to Switzerland’s position as a center of excellence for blockchain. The three promoting associations commit to monitoring the implementation of proposed measures and adjusting them based on economic and regulatory developments.
Established in 2018, the Swiss Blockchain Federation is a public-private partnership focused on promoting legal certainty and optimal conditions for blockchain-based applications and businesses. Its membership includes approximately 80 entities, including the cantons of Ticino, Zug, Neuchâtel, and Zurich.
Together with the Crypto Valley Association and the Bitcoin Association Switzerland, the federation aims to secure Switzerland’s enduring leadership in the global blockchain landscape.