Switzerland

Switzerland is globally recognized as one of the most supportive and forward-thinking countries when it comes to the development and integration of crypto payments and blockchain technology. It boasts a well-structured, clear, yet adaptable legal framework, keeping pace with the evolving needs and trends in the sector.

In the Swiss legal context, crypto payments are treated as digital assets, not currencies. Thus, depending on the transaction's nature and purpose, they are liable to income tax, wealth tax, Value Added Tax (VAT), and stamp duty.

Crypto payment operations are also subjected to Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations. Crypto service providers are required to secure a license from the Swiss Financial Market Supervisory Authority (FINMA) and adhere to due diligence, reporting, and record-keeping obligations.

However, Switzerland does have specific regulations in place for crypto payments, recognizing them as legal tender under certain conditions and for particular purposes. This regulatory framework is built around the concept of 'payment tokens', defined as tokens designed to serve as a medium of payment for acquiring goods or services or as a means for money or value transfer.

Such regulation of payment tokens aims to streamline the use and acceptance of crypto payments in Switzerland, ensuring legal certainty and security for both providers and users of crypto payments.