Beiträge

The Position of Blockchain Technology and Bitcoin in Swiss Law

Barbara Graham-Siegenthaler

Andreas Furrer

Proposition de citation: Barbara Graham-Siegenthaler / Andreas Furrer, The Position of Blockchain Technology and Bitcoin in Swiss Law, in : Jusletter 8 mai 2017

Les auteurs examinent les implications juridiques de la « technologie des Blockchains » et des « Bitcoins » dans le droit suisse, en portant leur attention sur des affaires pécuniaires et de la propriété. Ils étudient d’abord les effets de la LDIP sur ce sujet. Ils évaluent ensuite les implications sur les entreprises qui offrent un stockage de « Bitcoins » pour leurs clients. Celui-ci peut être fondé sur des concepts classiques du droit de la propriété et des contrats – avec des effets correspondant à l'action en revendication faillite. Les auteurs estiment qu’une propriété mobilière basée sur des « Bitcoins » peut être établie en appliquant les concepts fondamentaux du droit suisse de la propriété. (jp)

Table des matières

I. Introduction
- A. Bitcoins as a new currency based on a new technology
- B. Challenges for lawyers and lawmakers
- C. Question: ownership and segregation of Bitcoins
II. The law pertaining to Bitcoins
- A. Comparative viewpoints
  - 1. Introductory remarks
  - 2. Germany
  - 3. Netherlands
  - 4. Spain
  - 5. United States
- B. The different legal relationships (applicable law)
  - 1. The applicable private international law of the forum
  - 2. Legal relationship between sender and receiver of Bitcoins
    - 2.1. Problem of qualification
    - 2.2. Qualification as rights in rem
    - 2.3. Qualification as a contractual relationship
    - 2.4. Third approach: lex fori according to Article 15 SPILA
  - 3. The legal relationship between the service provider and the customer
    - 3.1. Choice of law clause
    - 3.2. Contractual relationship
  - 4. Conclusions
III. Two private law issues on Bitcoins under Swiss law
- A. Ownership and property of Bitcoins under Swiss law
  - 1. Common core of ownership laws and principles
  - 2. Principles of property law
  - 3. Ownership in Swiss law
    - 3.1. Concept
    - 3.2. Definition of an «object» under Swiss law
    - 3.3. Exceptions and deviations from the traditional definition
    - 3.4. Functional approaches to tangible objects and concepts of ownership
  - 4. Are Bitcoins objects in the sense of Articles 641 and 714 SCC?
    - 4.1. Digital data
    - 4.2. Impact of the decentralised structure of Bitcoins
    - 4.3. Legal consequences of the decentralised structure of Bitcoins
  - 5. Conclusions
- B. Practical impact: the example of segregation in case of bankruptcy
  - 1. Starting point: different transaction concepts used by service providers
  - 2. Principle of segregation in general
  - 3. Segregation of «stored» Bitcoins with a service provider (ownership scenario)
    - 3.1. Users control of their Bitcoins
    - 3.2. Relationship between sender and receiver
    - 3.3. Relationship between service provider and customer
    - 3.4. Similarities between intermediated securities and Bitcoins
    - 3.5. Bankruptcy scenarios
  - 4. Contractual perspective and possible claims (no ownership scenario)
    - 4.1. Introductory remarks
    - 4.2. Contract between the sender and the receiver of Bitcoins
    - 4.3. Contract between the service provider and its customer
    - 4.4. Consequences in case of bankruptcy
IV. Conclusions