Tobias Eberle, CEO of VQF, and Felicitas Sicardi, Legal Counsel,and SME at VQF, joined Delphine Forma to explore the unique Swiss SRO model that governs hundreds of crypto businesses under the country’s AML framework.

As crypto firms across Europe grapple with MiCA, Switzerland has quietly operated a different path, leveraging self-regulatory organizations (SROs) like VQF to supervise Virtual Asset Service Providers (VASPs) without full FINMA licensing.

You’ll learn:

• What exactly VQF is and how it fits into Switzerland’s regulatory landscape
• The crypto registration process and ongoing audit requirements under AMLA
• How Switzerland implemented a zero-threshold Travel Rule (since 2019!)
• Requirements around substance, real-time monitoring, and video identification
• What’s coming with Switzerland’s proposed amendment to the Financial Institutions Act and how it may impact crypto businesses
• Why supervision isn’t just about enforcement, it’s about guidance, education, and partnership

This episode offers a rare inside look at how a leading SRO oversees crypto compliance in a decentralized yet disciplined way.