KnowledgebaseMiCA vs Switzerland: Crypto Regulation Compared
MiCA gives an EU passport under one prescriptive regime; Switzerland stays principle-based outside it. How the two compare for a crypto firm choosing a base.
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Knowledgebase
Crypto, Blockchain & MiCA
Token classification, VASP and AML duties, the Swiss DLT regime and stablecoins, and how Swiss rules compare with the EU's MiCA framework for crypto firms.
Our Crypto & Digital Assets servicesSwitzerland regulates crypto by what a token and a business actually do, not by the label they carry. FINMA's 2018 guidelines sort tokens into payment, utility and asset types, and the function decides the law: a payment token brings AMLA duties, an asset token is treated as a security. A business that exchanges, transfers or safekeeps crypto for clients is usually a financial intermediary needing SRO affiliation, and holding third-party assets can reach into banking and securities law.
The DLT Act, the DLT trading-facility licence and FINMA's stablecoin guidance fill in the rest, and a dedicated crypto licence is expected in 2027. The guides below explain token classification, the VASP and travel-rule duties, and how the Swiss approach compares with the EU's MiCA regime for a firm deciding where to base.
Token Classification under FINMA Explained
How FINMA sorts tokens into payment, utility and asset types, and why their economic function (not the label) decides which Swiss financial law applies.
ReadWhat Is a VASP? Crypto Rules in Switzerland
What a VASP is under the FATF definition, and how Switzerland regulates crypto exchanges, transfer and custody businesses by substance under AMLA and FINMA.
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