两个中心：为何是瑞士和新加坡——Alexander Ressos博士著作《新加坡与瑞士数字资产法》（Digital Assets Law in Singapore and Switzerland）的一部分。
两个中心：为何是瑞士和新加坡：Alexander Ressos博士著作《新加坡与瑞士数字资产法》（Digital Assets Law in Singapore and Switzerland）的一部分。
本部分属于Alexander Ressos博士的著作新加坡与瑞士数字资产法，全书在本站逐节完整发布。
两大枢纽：为何是瑞士和新加坡
Two small countries, one at the centre of Europe and one at the tip of the Malay peninsula, have become the places where serious digital-asset businesses choose to live. Read more Singapore · Two Hubs读者是谁
A practitioner's handbook is only as good as its picture of the person holding it. This book assumes six kinds of reader, each with a different decision in front of them. Read more Singapore · Two Hubs五项决策
Five decisions recur in almost every mandate, whatever the client's label. The first is where to incorporate. Read more Singapore · Two Hubs本书阅读指南
The book has seventeen parts and a set of annexes. Part A is the overview. Read more Singapore · Two Hubs截至2026年6月30日的法律状况
A book about a fast-moving field must choose a date and keep to it. This book states the law as of 30 June 2026. The choice is deliberate. Read more Singapore · Two Hubs本书不涉及的内容
The book does not describe the law of the European Union, the United States or any third jurisdiction except to the extent needed to understand a Swiss or Singapore rule or to advise a client who… Read more Singapore · Two Hubs共同的逻辑
Switzerland and Singapore are often mentioned in the same breath, usually by people who have been to neither. Read more Singapore · Two Hubs两者的差异
The resemblance is real but it stops at the surface of the legal system. Read more Singapore · Two Hubs同一资产类别，两套术语
The last difference is one of language. It is the one most likely to cause an error in a cross-border mandate. Read more Singapore · Two Hubs瑞士枢纽的地理分布
Switzerland's digital-asset industry has a capital, Zug, and three further centres with distinct profiles. Zug is where the protocols, the foundations and the early service providers settled. Read more Singapore · Two Hubs2021年《DLT法》
Switzerland did not pass a crypto act. Read more Singapore · Two HubsFINMA的分类体系与牌照阶梯
FINMA classifies tokens by their economic function into payment tokens, utility tokens and asset tokens, with hybrids possible, a scheme it announced in its ICO Guidelines of 16 February 2018 and… Read more Singapore · Two Hubs银行桥梁与市场基础设施
The feature that most distinguishes Switzerland from other crypto hubs is that its banks take part. Read more Singapore · Two Hubs一章读懂瑞士：税务
Swiss tax law treats a payment token as a movable capital asset. Read more Singapore · Two Hubs协议的基金会与社团
Swiss private law offers two legal forms that have become standard wrappers for decentralised protocols. The foundation under Art. 80 ff. Read more Singapore · Two Hubs一个监管机构，一座城市
Singapore's regulatory architecture for digital assets can be understood from a single fact: the central bank is also the sole financial regulator, the licensing authority, the AML supervisor for… Read more Singapore · Two Hubs2019年《支付服务法》与数字支付代币牌照
The Payment Services Act 2019 is the statute under which most Singapore crypto businesses are licensed. Read more Singapore · Two Hubs2022年的转向
Between 2017 and 2021 Singapore presented itself as a crypto hub and MAS was among the first regulators to publish a guide to token offerings, in November 2017, and to bring exchanges within a… Read more Singapore · Two Hubs2022年《金融服务与市场法》与DTSP制度
The Financial Services and Markets Act 2022 is MAS's umbrella statute. Read more Singapore · Two Hubs稳定币、代币化与Guardian项目
MAS finalised its framework for single-currency stablecoins on 15 August 2023. The framework applies to stablecoins pegged to the Singapore dollar or to a G10 currency and issued in Singapore. Read more Singapore · Two Hubs零售限制
MAS began restricting retail access in January 2022 with Guidelines PS-G02, which told DPT service providers that trading in DPTs was not suitable for the general public. Read more Singapore · Two Hubs税收中性
Singapore has no capital gains tax, no wealth tax and no inheritance tax. Read more Singapore · Two Hubs为何要进行比较
A book about two legal systems could simply describe each in turn and leave the comparison to the reader. This book does not, for a practical reason. Read more Singapore · Two Hubs各部分如何相互对应
The Swiss and Singapore parts of this book follow the same sequence: foundations and institutions, private law, financial market regulation, AML and sanctions, taxation, and criminal law together… Read more Singapore · Two Hubs七个维度
Part O, Chapter I compares the two systems along seven axes. Read more Singapore · Two Hubs“套利”的正当含义
Clients often arrive with the word "arbitrage" in mind and advisers often use it loosely. Read more Singapore · Two Hubs方法的局限
Three cautions apply to every comparison in this book. The first is that the two systems are moving at different speeds and in slightly different directions. Read more Singapore · Two Hubs第一阶段：发现期（2013—2017年）
Regulation of digital assets in Switzerland and Singapore was not designed on a blank sheet. Read more Singapore · Two Hubs第二阶段：划定监管边界（2018—2021年）
The ICO boom produced the first failures and the first rules. In Switzerland the emblematic case was Envion. Read more Singapore · Two Hubs第三阶段：崩盘与转向（2022—2024年）
The year 2022 is the hinge of the story. Read more Singapore · Two Hubs第四阶段：整合期（2025—2026年）
By 2025 both hubs had decided what they wanted to be. Read more Singapore · Two Hubs每一次失败带来了什么改变
The following table pairs the principal failures with the rule or practice each produced. Read more Singapore · Two Hubs全球层面
Neither hub makes its rules alone. Five international bodies and one regional regulation set the frame within which Switzerland and Singapore legislate. Read more