Swiss Federal Councilor Parmelin Ignites Blockchain Revolution with Bold New Push
Switzerland''s blockchain sector just got a turbocharge from the top.
Federal Councilor Guy Parmelin—never one for half-measures—just threw gasoline on the country''s distributed ledger ambitions. No vague promises here: this is a full-throated endorsement from a government that still remembers how to build financial infrastructure without begging Wall Street for permission.
The Alpine Crypto Hub Awakens
Zug''s ''Crypto Valley'' might need to rebrand as ''Crypto Mountain Range'' if Parmelin delivers. The announcement conspicuously lacked the usual regulatory hand-wringing—just straight talk about positioning Switzerland as the adult in the global blockchain room.
Of course, the private bankers on Bahnhofstrasse are already calculating how to turn this into another ''private wealth'' play. Some things never change.
Positive signals from the federal council
Blockchain and crypto are no longer niche topics, said the Minister of Economic Affairs, thanking the entrepreneurs for their commitment to Switzerland. He had visited Crypto Valley in February 2025 and was impressed by the functioning ecosystem that spans multiple cantons.
"It is important to the Federal Council to position Switzerland as a leading blockchain hub in the long term. This can be achieved by adhering to the principle of technology neutrality and regulating only as much as necessary (and as little as possible)." – Federal Councillor Guy Parmelin
Parmelin identified the stablecoin sector as one of the key focus areas. This concerns digital assets that typically represent fiat currencies such as the US dollar. Their issuance has been effectively banned since the publication of new guidelines by the Swiss Financial Market Supervisory Authority (FINMA) last summer, as reported by CVJ.CH. The State Secretariat for International Finance (SIF), headed by Parmelin, is currently working on a legislative proposal to selectively amend Swiss financial market law and improve the framework for stablecoins. The proposal will be open for public consultation in the fall. The FinTech license-granted only sparingly by FINMA-will also undergo an update.
What is needed in concrete terms?
One thing became clear during the discussions: Switzerland has established itself in recent years as a globally recognized blockchain hub. Many blockchain companies and foundations now known worldwide have chosen to set up in Switzerland, believing in the opportunities the country offers. But international competition has intensified. Legal uncertainties, regulatory challenges, and increasing global pressure are testing Switzerland’s attractiveness as a blockchain location.
"Global competition has increased, which means Switzerland cannot afford to stand still. We-industry, politics, and government-must act together now to secure our leading position. Together we can send a powerful signal. With this event at the Federal Palace, we wanted to honor the blockchain pioneers whose commitment has played a key role in shaping Switzerland’s reputation as a global blockchain center. We also want to lay the groundwork for the future of the blockchain industry. That’s why we are very grateful that Federal Councillor Guy Parmelin supports our concerns and the blockchain sector." – Heinz Tännler, Finance Director of Zug and President of the Swiss Blockchain Federation
In this context, the SBF once again presented its recently published 12-point manifesto. The document analyzes the current situation as well as the strengths and weaknesses of the Swiss financial center, deriving action points and recommendations for policymakers, government, and industry. The manifesto is supported by the Swiss Blockchain Federation, Crypto Valley Association, Bitcoin Association Switzerland, DAO Suisse, and Swiss FinTech.
