Regulatory and Policy

Working Group

Group of subject matter experts from across the crypto valley and wider ecosystem within the fields of law, compliance and policy.
Contributes to the national and international discourse relevant to develop and support an optimal regulatory framework for cryptographic and related technologies and businesses, including DLT and blockchain.

Mission Statement

The Mission of CVA’s Regulatory Working Group is to define and advocate an optimal regulation and policy framework for the ecosystem, to identify and consolidate best practices, leading expert knowledge and evolving market standards in crypto business activities, and to provide a platform for our members to actively shape continuous exchange of information with experts, institutions and authorities.

In pursuing it’s mission, the CVA’s Regulatory WG sets up topic specific subgroups (“Task Forces”), which conduct research, create publications and promote the members in public events.

Contact us

Working Group Task Forces

Virtual Asset Service Provider/ AML

Monitors and participates in dialogues on establishing domestic and global standards for data transmission, studies and reports on available technical solutions, supports domestic and international outreach & educational activities for members (publications, info events)

Currently working on

Continuous dialogue on establishing domestic and global standards for data transmission, study and report on available technical solutions, support domestic and international outreach and educational activities for members.

Head: Chris Gschwend

Central Banks Digital Currencies and Monetary Policy

Research on the economic framework of Central Bank and private digital currencies, monetary policy and financial stability. Exchange of information with institutions and governmental authorities. Creates publications for CVA membership/interested parties about this topic. Promote the understanding of the impact digital currencies could have both in the in the wider economy and banking system.

Currently working on

“Central Bank Digital Currency Questionnaire”
(to be distributed to domestic and international authorities and market participants)

Head: Athanasios Ladopoulous

Regulatory Monitoring

Monitor the regulatory developments on virtual assets in different jurisdictions around the world. The TF interacts with institutions and governmental authorities to exchange knowledge and creates publications for its members as well as the general public.

Head: Magdalena Boškić

Recent works

Economic Framework of Digital Currencies

Central Banks, Digital Currencies and Monetary Policy – CBDC & MP
November 2019

Regulatory framework and technical requirements for Swiss financial intermediaries regarding the transmission of data relating to DLT transactions

The Swiss State Secretariat for International Finance (SIF), together with CVA expert members, presented the regulatory framework and technical requirements for Swiss financial intermediaries regarding the transmission of data relating to DLT transactions

August 2019

Update on SBA Guidelines

Update on SBA Guidelines intended to support member banks in their discussions with companies that have links to distributed ledger technology (DLT) and assist with risk management in their business. CVA has cooperated with the SBA to update the 2018 guidelines on opening corporate accounts for blockchain companies, with new terminology and content. The Federal Department of Finance (FDF) and FINMA welcome the publication of the updated guidelines.
August 2019

Crypto SRO

Project and development of an implementation plan for an SRO dedicated to the needs of the digital/crypto finance space, independent and commercially self-sustainable. Implementation now by private sector party, identified through an official selection process.
2018 - August 2019

Swiss Government Consultations

Participation in the Swiss Government Consultations on the legislative proposal for a new Federal Act on the Amendment of Federal Laws in light of the Developments regarding DLT.
June 2019

Submitted Position to the FATF on the Draft Interpretive Note on Virtual Assets and Virtual Asset Service Providers

April 2019

Publication and updates reflecting new regulatory developments.

FINMA ICO classification roundtable events in Zug, Geneva and Lugano.
2018

Bank Account Opening

Issued guidance to banks on accounts for blockchain company, under the lead of the Swiss Bankers Association
2018