Two Cryptocurrency-Focused Swiss Banks Were Granted With Banking Licenses
Also, on August 26 FINMA released anti-money laundering regulations, based on the guidance of the group of 7 (G7). It is mainly about the restrictions that are imposed on banks:
Institutions supervised by FINMA are only permitted to send cryptocurrencies or other tokens to external wallets belonging to their own customers whose identity has already been verified and are only allowed to receive cryptocurrencies or tokens from such customers. FINMA-supervised institutions are thus not permitted to receive tokens from customers of other institutions or to send tokens to such customers
Such decision presents the support of the growing potential of blockchain industry, integrated with the traditional banking system. It is Switzerland that one of the most friendly regimes was established concerning the regulation of both cryptocurrency and blockchain companies.
Aximetria, a cryptocurrency investment app, has also recently received a license from The Financial Services Standards Association (VQF).
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