Switzerland’s Federal Department of Finance has decided that the rapid development of blockchain and corresponding financial instruments doesn’t warrant changes to existing tax laws, as the country’s existing legislation can accommodate the nascent technology. According to a press release, the Swiss Federal Council first requested a report on the subject from the Department of Finance on December 7, 2018, to explore the potential impact of decentralized ledger technology (DLT) and blockchain on the country’s economy. The lawmakers presented their findings to the Council during a meeting on June 19, concluding that ... (full story)