Report on the debate regarding the Swiss Parliamentary Motion 21.4068 on Cryptocurrency & Cybercrime by Mr. Roger Nordmann

CVA's Regulatory Working Group has invited  the President of the socialist group of the Swiss Federal Assembly (Mr. Roger Nordmann) to present & further discuss his Motion 21.4068, which he submitted on 22 September 2021 to the Swiss Parliament.

The Motion denounces the worldwide increase in cyber criminality involving cryptocurrencies as means and/or proceeds. Among the proliferating criminal activities are mentioned cases of ransomware, scams, illegal mining, etc. 

In order to solve the problem, Mr. Nordmann proposes to impose obligations at the roots of systems allowing transfers of cryptocurrencies, namely blockchains. Concretely, the motion proposes four things: First, to require the identification of the beneficial owner of all Swiss-based cryptocurrencies which, failing so, would be deemed non-compliant (1), to prohibit the use of non-compliant cryptocurrencies under Swiss law (2), to prohibit Swiss entities to transact with non-compliant cryptocurrencies (3), to promote the identification of the beneficial owner as a standard at international level (4).

The attached document recounts the meeting and viewpoints presented by both Mr. Nordmann and the legal experts of CVA's Regulatory Working Group.


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