Dirk Spiegel on the crypto institution licence under FINIG – what comes next

25/04/2026

Swiss crypto regulation is facing a paradigm shift. With the FINIG revision, the Federal Council is sending two new authorisation categories out for consultation: Payment institution and the crypto institution. This affects virtually all providers of custody, trading, staking and stablecoins in Switzerland.

Dr. Dirk Spiegel, CEO of velaw, explains what this means in practice and why now is the right time to review your compliance structure in this short video.

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Key points at a glance

Two new licence categories: With the FINIG revision, the Federal Council proposes two new categories: payment institutions for payments and stablecoins, and crypto institutions for custody, trading and staking.

FINMA instead of an SRO: The previous SRO model will be replaced by direct FINMA supervision. For many providers, this means higher requirements for organisation, governance and documentation.

No specific entry into force, but a clear direction: An exact date has not yet been set. However, the regulatory direction is clear. Those who act now will gain a strategic advantage.

Prepare now: The key question is not whether, but when. Institutions that review and adapt their compliance structures today will have less effort tomorrow.

Would you like to know whether your crypto activities are well positioned from a regulatory perspective?

velaw supports financial institutions and crypto service providers with regulatory classification and preparation. Contact us for a free initial assessment.

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Our detailed analysis of the crypto institution licence under FINIG

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Bio

Dirk is the founder of Velaw AG and has more than 20 years of experience in asset management, investment funds, and private market investments. He advises international and national asset managers, banks, funds, institutional investors, and other financial intermediaries on key legal, strategic, and transaction-related issues.

He specializes in the creation and structuring of investment products, the implementation of approval procedures and advice on sales and marketing activities in Switzerland and abroad.

He has extensive experience in corporate governance, compliance and risk management as well as in the development and implementation of internal regulations, anti-money laundering concepts and control mechanisms. Previously, he was Group General Counsel and Group Chief Compliance Officer of a global asset management company listed in Switzerland and gained professional experience in Europe, the USA and Asia.