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Swiss regulator first issued banking licenses to blockchain companies

The Swiss Financial Markets Supervision Service (FINMA) has issued blockchain firms with SEBA Crypto and Sygnum licenses for banking and securities transactions. This was reported on the website of the department. FINMA representatives emphasized that such licenses were first introduced to blockchain service providers. SEBA Crypto and Sygnum will now be able to work with institutional and professional investors. In addition, today […]

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The Swiss Financial Markets Supervision Service (FINMA) has issued blockchain firms with SEBA Crypto and Sygnum licenses for banking and securities transactions. This was reported on the website of the department.

FINMA representatives emphasized that such licenses were first introduced to blockchain service providers. SEBA Crypto and Sygnum will now be able to work with institutional and professional investors.

In addition, today the regulator has issued new guidelines that state that anti-money laundering laws apply to blockchain payments, because “the anonymous nature of the technology entails increased risks”.

20190826 Finma Aufsichtsmitteilung 02 2019 by BlockchainJournal on Scribd

“FINMA-controlled institutions are allowed to send cryptocurrencies or other tokens to third-party wallets belonging to their own customers whose identity is identified. It is allowed to receive cryptocurrencies or tokens only from verified users, ”the agency’s new document says.

Recall, the day before, a delegation of the US House of Representatives visited Switzerland. Following the visit, lawmakers remained concerned about the prospects of launching the Libra project from the largest social network Facebook.

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