Stablecoins in the Swiss Financial Institutes Act FinIA

Federal Council wishes to further strengthen attractivity of the Swiss financial centre for innovation in the realm of digital transactions. It thus follows up on previous initiatives and prepares amendments to the FinIA with the proposal to introduce two new institute categories: 

The FinTech licence shall be replaced by the licence for a payment method institute which is entitled to issue a specific type of stablecoins: value-stable, crypto-based means of payment. It shall also be allowed to receive customer assets which it can segregate to enhance protection in case of bankruptcy. It shall not be allowed to pay interest or offer lending.

The crypto institute shall be entitled to provide services in relation with crypto-based assets, including stablecoins which have been issued abroad, but not with financial instruments. It shall also be entitled to establish an organised trading venue, provided only transactions with crypto assets are possible.

Prescriptions regarding customer information, combat of money laundering, investor protection, are adapted to include specificities relating to the new institute categories.