Connect with us


Crypto News

In first, Swiss regulator issues banking license to two blockchain firms

Switzerland’s Financial Market Supervisory Authority (FINMA) has issued banking and securities dealers’ licenses to two new blockchain firms – SEBA Crypto and Sygnum.

The regulator announced the news on Monday, saying that this is the first time it has issued such licenses to “pure-play blockchain service providers. The licenses will allow SEBA Crypto Sygnum to provide services to institutional and professional customers.

FINMA today also issued guidance, which says that existing anti-money laundering (AML) laws apply to blockchain payments, as the “inherent anonymity of blockchain technology presents increased risks.”

“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,” the regulator said, adding:

“FINMA-supervised institutions are thus not permitted to receive tokens from customers of other institutions or to send tokens to such customers.”

Source link

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Trending Posts

Like Our Facebook Page

Disclaimer do not claim ownership of any of the contents that we upload and any copyright infringement complaints will be executed immediately!

It is our policy to honor all take-down requests!

If You Feel Your Rights Are Being Infringed Upon, Send mail us:

To Top
Social Media Auto Publish Powered By :