1 March 2026
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ZUG DLT
The Vanderbilt Terminal for Distributed Ledger Technology
INDEPENDENT INTELLIGENCE FOR SWITZERLAND'S DLT ECOSYSTEM
DLT Securities Issued CHF 500M+| SDX Participants 25+| Swiss DLT Firms 1,200+| Project Helvetia Active| FINMA DLT Licences 2+| DLT Act Aug 2021| DLT Securities Issued CHF 500M+| SDX Participants 25+| Swiss DLT Firms 1,200+| Project Helvetia Active| FINMA DLT Licences 2+| DLT Act Aug 2021|

Research Methodology

ZUG DLT’s editorial standards require that all factual claims be grounded in verifiable primary sources. This page describes our core source categories and research methodology.

Primary Sources

Swiss Federal Gazette (Bundesblatt / Feuille fédérale / Foglio federale)

The Federal Gazette is the official publication of the Swiss Confederation and the authoritative source for federal legislation, Federal Council announcements, and regulatory notices. We use the Federal Gazette to track:

  • The progress of federal legislation affecting DLT, including the DLT Act’s passage and phased implementation
  • Federal Council dispatches (Botschaften) accompanying legislative proposals, which contain the government’s official explanation and intent for each statutory amendment
  • FINMA licensing decisions and regulatory publications to the extent they appear in the Gazette

The Federal Gazette is available in German, French, and Italian at fedlex.admin.ch.

FINMA Publications

The Swiss Financial Market Supervisory Authority publishes guidance, annual reports, risk monitors, and enforcement notices that inform our coverage of DLT supervision. We track:

  • FINMA circulars (Rundschreiben) addressing DLT-related activities, including those governing financial market infrastructure, banking, and securities dealing
  • FINMA’s annual report, which contains supervisory statistics and thematic commentary on emerging risks including DLT and crypto assets
  • FINMA guidance letters and communications addressing blockchain-specific regulatory questions
  • FINMA enforcement decisions to the extent publicly disclosed

FINMA publications are available at finma.ch.

SIX Group Reports

SIX Group AG — the operator of the Swiss Stock Exchange, SIX Digital Exchange, and SIX Payment Services — is central to Switzerland’s DLT market infrastructure. We track:

  • SIX Digital Exchange’s official announcements of new listings, participants, and infrastructure developments
  • SIX Group’s annual reports and investor communications
  • SDX regulatory filings and public disclosures where available
  • SIX Group’s research publications on digital assets and market structure

Federal Council DLT Reports

The Swiss Federal Council — Switzerland’s executive government — has published a series of reports on DLT, blockchain, and digital assets that have shaped the legislative and regulatory framework:

  • The 2018 Federal Council report “Legal framework for distributed ledger technology and blockchain in Switzerland,” which initiated the process leading to the DLT Act
  • The 2019 consultation draft and Federal Council dispatch accompanying the DLT Act
  • Subsequent Federal Council reviews of DLT Act implementation and emerging digital asset policy questions
  • Federal Council positions on cryptocurrency taxation, stablecoins, and CBDC

Federal Council publications are available at admin.ch.

Swiss Law Journals and Academic Sources

Switzerland’s legal academic community has produced substantial commentary on the DLT Act and its implementation. We draw on peer-reviewed analysis from:

  • SZW/RSDA (Schweizerische Zeitschrift fur Wirtschafts- und Finanzmarktrecht / Revue suisse de droit des affaires et du marche financier) — Switzerland’s leading financial and commercial law journal
  • AJP/PJA (Aktuelle juristische Praxis / Pratique juridique actuelle) — covering Swiss private law including financial market law
  • recht — Swiss law journal addressing current legal developments
  • Academic commentary from University of Zurich, University of Geneva, University of St. Gallen, and other Swiss law faculties on DLT legislation
  • Publications from the Swiss Institute of Comparative Law

Swiss National Bank Publications

The Swiss National Bank’s (SNB) research on wholesale central bank digital currency, including Project Helvetia and its successors, informs our coverage of the DLT securities settlement infrastructure. We track SNB working papers, quarterly bulletins, and official SNB communications.

Secondary Sources and Verification

Where we reference secondary sources — market research reports, industry publications, news reporting — we verify claims against primary sources where possible. We distinguish clearly between verified primary-source facts and secondary-source assertions, and we note where information is sourced from industry participants who have a commercial interest in a topic.

Corrections

ZUG DLT is committed to correcting factual errors promptly. If you believe content on this Site contains an error of fact, contact [email protected] with the specific claim you believe to be incorrect and the primary source you believe contradicts it. We investigate all credible correction requests and update published content when errors are confirmed.

Timeliness

Publication dates on all articles reflect the date of original publication. Where we make material updates to reflect subsequent developments, we note the update date. Readers should treat publication dates as relevant context when assessing whether content reflects the current state of Swiss DLT law and market practice — this is a rapidly developing field.

Editorial Independence

ZUG DLT’s editorial coverage is not influenced by advertising relationships, sponsorships, or the commercial interests of any regulated entity. The Vanderbilt Portfolio AG has no ownership stake in any financial market infrastructure, DLT platform, or regulated financial institution covered by this Site.

Publisher

The Vanderbilt Portfolio AG Zurich, Switzerland Donovan Vanderbilt, Editor [email protected]