finma

Switzerland Approves Bitcoin Banks – But With Strict Conditions Attached

One of the major problems for businesses in the cryptocurrency industry is finding a bank that agrees to work with them and connect them to the traditional fiat financial system. The financial regulator in Switzerland has just made this easier by licensing two companies to serve as tailored banks for the industry and further open...
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Swiss regulator approves banking license for crypto banks; updated KYC AML rules follow

As crypto businesses have started to make the move into crypto-friendly geographies to avoid risk of shutting down, Switzerland made headlines on the other side of this spectrum by announcing banking licenses to two cryptocurrency-focused banks. According to the official report, “For the first time, FINMA has issued banking and securities dealers’ licences to two...
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