Blockchain | DLT | FinTech

Crowdfunding, Digital Financial Services, E-Money, Value Cards, Digital Currencies, Bitcoin, Tokens

Your goals

The digital revolution has found its way to the financial services industry, disrupting traditional ways of doing business. The same way that Amazon has transformed traditional retail, an increasing number of blockchain (distributed ledger Technology | "DLT") and financial technology (fintech) companies are starting to re-invent the way the financial services industry is conducting business.

In order to successfully set up and operate blockchain or fintech services in Switzerland, regulatory burdens must be overcome and compliance obligations be met. Our team combines knowledge from a legal, tax and compliance perspective and assist you in the management of complex projects.

Our services

Whether you are developing, procuring, or investing in these areas, we understand the opportunities and challenges your business can face. We have been supporting clients from across the full spectrum. New technologies, such as blockchain (distributed ledger Technology | "DLT"), are part of our daily business. This assures that our legal expertise is combined with a thorough technical understanding of the technology underlying our client's business models.

Our blockchain and fintech clients range from established international institutions to some of the world's most innovative startups with the potential to become market disrupters. Our experts remain in close contact with the authorities (e.g. FINMA or tax authorities) and are heavily involved in regulatory projects affecting the industry.

We may assist you in:

  • Setting up and operating blockchain applications (e.g. FIAT/DC und DC/DC exchange services, wallet services, colored coins, DOA's smart contracts, gaming applications)
  • Setting up payment, lending, personal finance and wealth management applications
  • Setting up crowdfunding applications and organizing token generating events (TGE)
  • Assist in entering into the Swiss and European market
  • Minimising the regulatory burdens for digital financial services
  • Dealing with FINMA and self-regulatory organisations
  • Setting up FINMA approved compliance schemes
  • Dealing with tax, VAT and customs authorities in order to set-up a cost-efficient business model
  • Incentives for R&D, IP and other business activities
  • E-Money, Digital Currencies and payment card services
  • Entering into a fintech partnership (partnership agreements, IT/IP and data ownership /licensing agreements, commercialisation strategies)
  • Artifical Intelligence, (PPTX, 3.9 Mb) Big data issues, data protection and data security, management of cyber risks

MME Integrated Approach

We have set up a team of technology, banking, corporate law, distribution, tax and AML experts jointly providing solutions and expertise for blockchain and fintech projects.

MME is a founding member of the Crypto Valley Association (https://cryptovalley.swiss/) as well as the International Token Standardization Association (https://itsa.global/).

We are also involved in the developement of the legislation in Switzerland and Liechtenstein. Noteworthy is mainly Daura, a project to create blockchain-based shares according to Swiss corporate law (http://daura.ch). In addition, Nägele Rechtsanwälte GmbH in Vaduz is our cooperation partner in the field of blockchain technology. MME and Nägele together support DLT projects across borders both in Switzerland and Liechtenstein.

Your team

Contact

In need of legal, tax or compliance advice? We look forward to contacting you.

From the magazine

Delegation of Tokens and VAT

For VAT purposes, the delegation of the "staking function" of tokens is in principle to be qualified as a taxable service of the token holder to the validator. A corresponding ruling request concerning a specific project was positively confirmed by the VAT Department of the Federal Tax Administration.

DLT Ecosystems & Foundation

DLT Ecosystems deal at a certain point with the question of how best to manage their off-chain activities. The scope for design is wide because, unlike classic business ecosystems, there is no pre-existing lead company that dictates ecosystem strategy and value creation. The whole governance framework for the management and control of off-chain activities in DLT Ecosystems must be practically created from scratch. With these brief explanations, we address the factors determining the governance framework of DLT Ecosystems and the role of DLT Foundations within its network economy.

FTA published crypto prices 2020

The Federal Tax Administration has updated the 2020 price lists, including 20 different crypto assets.

Entry into force of the DLT Act as of 1 August 2021 - The new DLT Exchange License

At its session on 18 June, the Federal Council brought the DLT Act (Federal Act on the Adaptation of Federal Law to Developments in the Technology of Distributed Electronic Registers) fully into force on 1 August 2021. The associated blanket ordinance also came into force on 1 August 2021. For many market participants, one of the most important innovation which the DLT Act entails is the introduction of the DLT trading facility, a new form of licence for exchanges for security tokens and other digital assets.

Decentralized Autonomous Association (DAA)

Many previous Decentralized Autonomous Organizations (DAOs) have been criticized for their uncertain legal status, liability and ability to manage real-world projects. With the aim to overcome these legal uncertainties, MME - together with Validity Labs and various other friends within the Swiss FinTech industry - have elaborated a legal und technical framework enabling blockchain-governed Decentralized Autonomous Associations (DAAs).

FINMA publishes Stable Coin Guidelines

The Swiss Financial Market Supervisory Authority FINMA today publishes a supplement to its ICO guidelines outlining how it treats so-called ‘stable coins’ under Swiss supervisory law.

FTA Crypto Working Paper

The Federal Tax Administration (FTA) sets out its developed practice with regard to crypto currencies and ICOs in a working paper based on the existing tax laws.

Publication VAT Practice for Tokens

The FTA has published its practice adjustments for VAT on supplies in connection with blockchain and distributed

Digitize Your Shares!

MME and Swisscom have jointly developed the blockchain-based “daura” Platform that enables Swiss SMEs to now keep their share register simply and digitally, and to conduct capital procurement transactions at the push of a button.

Framework for Crypto Tokens

The current "Block 2" version of the "Conceptual Framework for Legal and Risk Assessment of Crypto Tokens" includes several amendments to the initial genesis version from September 2017. The Framework can be considered in all jurisdictions, regardless of national legal and regulatory frameworks.

ICO Regulation in a Nutshell

In this video, Dr. Andreas Glarner, Partner at the MME Crypto Team, provides a high level overview on how Switzerland’s regulator FINMA assesses ICOs / TGEs based on the guidelines recently published.

All magazine reports

Publications

  • Alexandra Geiger,

    Stefan Keller

    Kryptowährungen in der Nachlassplanung und- abwicklung

    PDF

  • Thomas Linder

    Die Versteuerung digitaler Vermögenswerte

    PDF

All publications