As a result of ever growing international pressure regarding transparency and information exchange, on 21 June 2019 Parliament passed the new Swiss Federal Act implementing the recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes.
The Blockchain Observatory and Forum of the European Union (EUBOF), an initiative of the European Commission to accelerate the development of blockchain in the European Union (EU), has published a new report named “Legal and regulatory framework of blockchains and smart contracts”. The paper highlights the typical legal issues which often arise from the current use of the blockchain-technology (including smart contracts). It entails some useful solutions that lawmakers and international regulators may implement to overcome the challenges between the typical technological features of the blockchain and the current regulatory framework of most EU member states.
The Swiss Data Protection Act (DPA) is currently being revised. Due to the rapid technological development over the last 20 years, the DPA is no longer up to date.