In 2022 the market carried on demonstrating great interest in financial services and assets connected with crypto. FinTech companies and the growing number of banks under FINMA's supervision enlarged the scope of their services in this area. Due to the survey of supervised institutions, FINMA found out that artificial intelligence (AI) is also becoming more critical in the financial markets' activities. As a result, FINMA set up a new unit to correctly supervise these changes in financial institutions. Private firms are also adapting to these shifts, turning to
contract law advisory for structuring new technology-related agreements.
In 2022 there were some fluctuations in cryptocurrency values and eye-catching fails of several foreign FinTech companies. FINMA considered this situation to confirm its long-standing practice of licensing and supervising products and services based on a technology-neutral, functional approach. The purpose is to advance innovations and ensure proper protection for customers and the financial markets.