Phase one of Switzerland's blockchain law goes into effect

On Monday, part one of the Swiss blockchain law covering company reforms went into effect. Back in September 2020, the country’s parliament passed an expanded regulatory framework for crypto and blockchain technology in the country.

According to a Swissinfo report, the implementation of the new regulatory paradigm will help to improve Switzerland’s burgeoning crypto and blockchain scene. Indeed, industry stakeholders in the country praised the expanded financial and corporate reforms included in the amended legislation passed by parliament in September 2020.