On February 6, 2026, Homburger submitted a consultation statement relating to the Federal Council’s draft legislation which intends to introduce an enhanced regulatory framework for the issuance of stablecoins and the provision of crypto-related financial services.

While the draft legislation would generally enhance the robsutness of the Swiss regulatory framework, certain amendments will in Homburger’s view need to be made to maintain and ensure an efficient and appropriate supervisory regime for Swiss market participants. In particular, Swiss licensed banks should in our view be permitted to issue stablecoins with the facilitations under the Federal Anti-Money Laundering Act also applying to regulated banks in the context of the issuance and/or distribution of stablecoins.

Please visit the Homburger Hub – Regulatory Innovations to read Homburger’s full consultation statement and receive regular updates on the latest developments under the Swiss financial market laws.