Adaptation of Swiss federal law to developments in distributed ledger technology (DLT).

With the first part of the “Federal Act on the Adaptation of Federal Law to Developments in Distributed Electronic Register Technology”, which entered into force on February 1, 2021, the Swiss legislator has created a legal basis for certain blockchain-based legal positions (such as claims and membership rights) as well as assets.

This legislation is based on a genuinely civil law solution, which provides the parties with toolkits to map and transfer their rights, but leaves the technical details to the contractual agreement of the parties (and thus to private autonomy and consequently without state certification or supervisory bodies). This is intended to prevent technological development from being steered in a specific, state-determined direction and to prevent future innovations from being hindered. The new or revised provisions in the Code of Obligations (article 622 CO, article 973c CO, article 973d CO, article 973e CO, article 973f CO, article 973g CO, article 973h CO, article 973i CO und article 1153a CO) will therefore only define the objectives that a register must achieve in order to replace a traditional deed as an information carrier under securities law. The technical implementation of these requirements, on the other hand, is left to practice.

Botschaft zum Bundesgesetz zur Anpassung des Bundesrechts an Entwicklungen der Technik verteilter elektronischer Register (AS 2021 33; BBl 2020 233)

Bundesgesetz zur Anpassung des Bundesrechts an Entwicklungen der Technik verteilter elektronischer Register (AS 2021 33; BBl 2020 329)

The shares of MME Compliance AG were registered on February 1 at 00:00:01 on the digital share platform of daura AG, a joint venture of SIX Group AG, Swisscom (Schweiz) AG and other partners, as the first DLT registry rights in Switzerland.

The Swiss Federal Supreme Court upholds the appeal of the Chinese swimmer Sun Yang against the composition of the CAS.

The International Court of Arbitration for Sport (CAS) had imposed an eight-year ban on Sun Yang, a multiple Olympic and world swimming champion, on February 28, 2020, for refusing to provide blood and urine samples during an unannounced doping control at his residence in September 2018. (CAS 2019/A/6148 World Anti-Doping Agency v. Sun Yang & Fédération Internationale de Natation)

Due to the bias of the presiding CAS arbitrator Franco Frattini, the appeal filed by Sun Yang with the Swiss Federal Supreme Court on June 15, 2020 was upheld and the CAS verdict of an eight-year ban rendered on February 28, 2020 has been reversed. Therefore, the CAS must  take a new decision in the doping case against Sun Yan Sun Yang with a different composition of the court of arbitration for sport.

Orininal french text of the judgement of the Swiss Federal Supreme Court in the case Sun Yang (4A_318/2020: Arrêt du 22 décembre 2020 – Ire Cour de droit civil)