Regulatory / FinTech / DLT
MLL Legal’s Regulatory, FinTech and DLT team has profound knowledge in the legal and technical aspects of distributed ledger technology, blockchain technology (public, private, permissioned or permissionless), layer-two scaling solutions (lightning protocol), side-chains (drivechain, liquid network, POA network). We provide actionable advise to help our clients to pursue the untapped possibilities of distributed ledger and blockchain technology, from innovative financing structures to new business models using FinTech and applications with the aspiration to reshape existing industries or economic behaviour.
- We advise on the tokenisation of financial instruments as well as virtual and physical goods and are also well versed regarding the formation of smart contract-based ecosystems such as decentralised, autonomous organisations (DAO) or full economies (DAE).
- Our specialists come from all areas of law and bring together a mix of expertise that covers the old- as well as the new economy. Our team has an in-depth understanding of the functioning and features of new technologies and actively contributes to the respective tech-communities.
- We see ourselves as enablers and guide projects through the legal and regulatory landscape with the aim to bring out the best of the used technology.
Initial Token Offering (ICO)
Tokens issued as part of an initial token offering can have various functionalities. We help clients to determine the appropriate token type with the most beneficial use for the planned project and tailor an approach to issue the payment token, utility token or a stable coin in a compliant and efficient manner.
Security Token Offering (STO)
We have been involved in many projects launching a security token offering. We advise clients in structuring the tokenisation of equity, debt (bonds), derivates, participation rights, convertibles (SAFE) or other novel financial products, draft the required documentation and guide clients through the token issuance process by drawing on our deep understanding of technology and of the enforcement priorities of key regulators such as FINMA.
FinTech
We support clients in establishing and operating fintech businesses, including navigation through the relevant licensing regimes to obtain a FinTech license (banking license light), a banking license, a securities dealer license or to become a member of a self-regulatory organisation as a financial intermediary.
“Collaborative approach covering corporate, regulatory and tax. Practical and plugged in”
Publications
The Legal 500 Country Comparative Guides 2024 – Switzerland: Fintech
The Legal 500 Country Comparative Guides 2024, February 2024- EN
Cryptoassets & Blockchain 2024 – Switzerland
Lexology GTDT, Getting The Deal Through, Law Business Research, January 2024- EN
Tokenisierung von Immobilien: Hype oder bald Realität?
Präsentation über Anwendungsbereich von Blockchaintechnologie im Immobiliensektor, MLL Legal- DE
Fintech 2023 Switzerland – Trends and Developments
Chambers and Partners, Global Practice Guides, Fintech 2023, 20 April 2023- EN
Firm News
MLL Legal | Delegation of the United Arab Emirates | Global Blockchain Synergy | Crypto Valley | Zug | 4 March 2024
MLL Legal advised Moflix in its $3.1 Million seed financing round
Prof. Dr. Andreas Furrer | Referent | ICT – RECHT und PRAXIS | 29.11.2023
Prof. Dr. Andreas Furrer | Nouveau Special Counsel
Prof. Dr. Andreas Furrer | New Special Counsel
News Portal
Agreement between Switzerland and the United Kingdom (UK) on Mutual Recognition in Financial Services
On 21 December 2023, Switzerland signed a first-of-its-kind financial services agreement with the UK (Agreement) after two years of talks which began after the UK left the EU. The Agreement uses outcomes-based mutual recognition of each jurisdiction’s financial services regulatory and supervisory regimes to facilitate cross-border trade in financial services to wholesale and sophisticated clients on the basis of deference, domestic law or other arrangements:
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Swiss Regulator FINMA Introduces New Internationally Leading Staking Services Regulation
FINMA published its new FINMA Guidance 08/2023 “Staking” clarifying the regulatory requirements for providing custody staking services in Switzerland in connection with validation services in proof-of-stake (PoS) protocols. This creates full legal certainty for such services, which brings Switzerland at the forefront in crypto regulations.
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Don’t Panic if the Postman Rings
Important news from the Value Added Tax (VAT) department: The Swiss Federal Tax Administration (SFTA) changed the VAT practice regarding the qualification of native tokens with governance function. All existing rulings concerning the qualification of such tokens are currently re-assessed. The SFTA communicates this practice change by individual letters to taxpayers who have previously obtained VAT advance rulings rather than by public announcement.
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New Update on the Taxation of Crypto Projects from the SFTA – Taxation of DAOs Remains Hidden Topic
On 19 October 2023 the Swiss Federal Tax Administration («SFTA«) provided new guidance on the taxation of blockchain related projects in the updated version of the “Dossier Tax Information: Cryptocurrency”. Further details on the tax treatment of non fungible Tokens, airdrops, staking and the token issuance to employees are presented. Unfortunately, the SFTA remains mostly silent on the taxation of DAOs.
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NFTs and Trademarks – What You Need to Know
«NFT» seem to be the word of the hour. Everyone wants NFTs, many are creating NFTs, some are buying and trading NFTs, few are getting rich off NFTs and even fewer know what an NFT really is. Currently, «The Merge»-NFT is the most expensive NFT ever traded – it was purchased for more than 91 million USD. However, NFTs are a much talked about topic not only because of their sometimes-astronomical purchase prices, but also because several legal disputes have already arisen in connection with NFTs – including over intellectual property rights. We tell you what you need to know, what you need to keep in mind and which questions are currently still unanswered with regard specially to trademark law.
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