Virtual currencies pose new challenges for regulators, supervisors and legislators. At the European Union level, the fight against money laundering, in the area of virtual currencies, is currently being pushed forward with the fifth money laundering regulation. In Switzerland, players in the field of crypto-currencies are already subject to the money laundering regulation. Compared to the EU, the Swiss Financial Market Supervisory Authority FINMA has adopted a more general approach, in that not only payment tokens but also investment and usage tokens as well as mixed forms of these are to be regulated more clearly. Furthermore, the administrations of the European Union and Switzerland intend to exploit the value creation potential that could result from the application of block chain technologies.

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