A central element of the proposed reform is the introduction of new licence categories of regulated entities, including payment institutions and crypto institutions. These developments illustrate the extent to which the regulatory debate has evolved: the question is no longer whether a framework for these activities is required, but how such a framework can support innovation while safeguarding financial stability, market integrity, and investor protection.
In this context, researchers from the Zug Institute for Blockchain Research (ZIBR) and the University of Zurich’s Center for Financial Market Regulation (CFMR) jointly submitted a response to the consultation.
The joint submission emphasizes the importance of aligning legal clarity, technological development, and effective risk awareness. A well-designed regulatory framework should provide certainty for market participants while enabling Switzerland to remain an attractive and credible hub for financial innovation.
The amendment of FinIA represents an important opportunity to reinforce quality and trust as defining characteristics of Switzerland’s regulatory approach to emerging financial technologies.
Further information:
Federal Council press release
Consultation project (FINIA amendment)
Center for Financial Market Regulation UZH (CFMR)
Authors:
Ass.-Prof. Claude Humbel, Prof. Rolf Sethe, Mawerick Marioli
