The Swiss Fintech Association (SFTA) has submitted its response to the consultation on the proposed Swiss fintech and crypto regulatory framework. Its aim is to ensure that the perspectives of innovators are taken into account.
In its response, the SFTA highlighted that stablecoins should be issuable with blacklisting only. The proposed whitelisting requirement, it argued, does not align with technological use cases or international trends.
The Association also stressed that new license types need to be commercially viable. Providers should be able to offer a broad range of services.
Regulatory requirements should remain proportionate, particularly for startups, and licensing processes should be swift.
Additionally, the SFTA emphasised the importance of regulatory clarity for decentralised financial systems. It sees these systems as central to the future of finance.
The Association also underscored that on-chain privacy should be regarded as a fundamental right. Individuals should be able to maintain privacy over transactions in a manner comparable to cash.
The SFTA continues to engage with regulators. Its goal is to support Switzerland as a competitive and innovation-friendly environment for fintech and crypto businesses.
Featured image credit: Edited by Fintech News Switzerland, based on image by suriyawutsuriya via Freepik
