At the First Time Swiss Regulator Issued Licenses for Banking Activity to Blockchain Companies

Swiss Financial Market Supervisory Authority (FINMA) issued licenses for banking activity and securities trading to two blockchain companies – SEBA Crypto and Sygnum, investment platform learned.

At the First Time Swiss Regulator Issued Licenses for Banking Activity to Blockchain Companies - invest with bitcoin doubler 2x
At the First Time Swiss Regulator Issued Licenses for Banking Activity to Blockchain Companies – invest with bitcoindoubler2x.com

The regulator said that it firstly issued such licenses to companies, specializing only in blockchain. The licenses will allow SEBA Crypto and Sygnum to provide services to institutional and professional clients.

Today FINMA has also issued a guide, which informs that existing anti-money laundering laws are applied to payments, made through blockchain, because “technology-specific anonymity poses increased risks”.

“Institutions, staying under FINMA regulation, can send cryptocurrencies and other tokens only to external wallet, that are owned by their own customers, whose personality is already checked, and they are allowed to receive exclusively cryptocurrency and tokens from such customers”. – the regulator notes.

The guide also says that “institutions, regulated by FINMA, cannot receive tokens from customers of other institutions and cannot send tokens to such customers”.

In Switzerland operates one of the friendliest regulatory regimes, when we talk about cryptocurrency and blockchain companies. Recently cryptocurrency investment app Aximetria has got VQF license, which is recognized by Swiss financial market supervisory authority. Besides, in July Bitcoin Suisse applied for a banking license at FINMA.

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