Regulierung vertrauenswürdiger Technologien in Liechtenstein (VTG-Kommentar)

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Type and Duration

FFF-Förderprojekt, May 2019 until December 2020 (finished)


Chair for Banking and Financial Market Law

Main Research

Wealth Management

Field of Research




Liechtenstein broke new legal ground with the enactment of the TVTG (Token and VT Service Provider Act) and was one of the first countries worldwide to attempt to create a legal framework for the developments of decentralised networks. The goal of the project was primarily the legal analysis of the legal provisions. In the course of the analysis, particular topics such as the registration procedure, the role of individual service pro-viders, the subordination under the Due Diligence Act or the information obligations were also examined in detail and published. In addition to the publication of numerous articles, the insights gained were also used in teaching and further education and made accessible to an academic discourse through lectures. The commentary processes these findings and deepens them within the framework of the analysis of the specific legal provisions


Act on Trusted Technologies, Token, Digitalization and Law, Blockchain Act, Regulation of Innovative Technologies


  • Forschungsförderungsfonds der Universität Liechtenstein


  • Damjanovic, D., Pfurtscheller, V., & Raschauer, N. (2021). Liechtensteins "Blockchain-Regulierung". Zeitschrift für Europäisches Privatrecht(2), 397.

  • Raschauer, N., & Silbernagl, R. (2020). Grundsatzfragen des liechtensteinischen "Blockchain-Gesetzes" - TVTG. Zeitschrift für Finanzmarktrecht (ZFR)(1), 11-18.

  • Dworschak, M. (2019, 29.Januar). Datenschutz vs Blockchain. Forschungsaustausch Institut für Wirtschaftsrecht, Bezau (AT).

  • Dworschak, M. (2019, 14. Juni). E-Privacy-Verordnung - Datenschutz 2.0 ?. Forschungs-Workshop Institut für Wirtschaftsrecht, Weesen (CH).

  • Raschauer, N. (2019, 21. Oktober). Fundamental Issues of the TTTL. CFRED’s 8th LegalTech Seminar - Liechtenstein´s New Blockchain Act from a Comparative Perspective, Chinese University of Hongkong.

  • Raschauer, N. (2019, 24. Oktober). Liechtensteins New Blockchain Act. Wealth Management: Selected Issues in Finance, Law and Tax, National University of Singapore.