Regulated activities on public blockchains

This report summarises the results of the roundtable on regulated activities on public blockchains held at Point Zero Forum 2025 in Zurich. Speakers included national and international representatives from the public and the private sector such as authorities, administration, industry and academia. The roundtable was hosted by the Swiss Financial Market Supervisory Authority FINMA, and moderated by Nina Reiser, Professor at the University of St. Gallen (HSG) and affiliated with the Center for Financial Services Innovation at the HSG (FSI-HSG). The roundtable addressed potential use cases for regulated activities on public permissionless blockchains, the risks involved and how these risks can be mitigated, including by policymakers, international and industry standard setters, as well as regulators. To the article