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Switzerland has released a guide for the blockchain company


On August 26th, 2019, the Swiss Financial Market Authority (FINMA) issued a guide with the requirements on combating money laundering for blockchain companies.

FINMA believes that all payments, including transactions using blockchain technologies, must comply with the law. The regulator reports that “FINMA-supervised institutions are allowed to transfer cryptocurrency and other tokens only to external wallets belonging to their own clients, the identification of which was carried out properly, and to receive cryptocurrency / other tokens only from such clients.”

FINMA also does not allow the transfer of tokens from wallets that are not subject to supervision, and requires the provision of information on combating money laundering in relation to all parties.

At the same time, the first “licenses for banking and professional activities in the securities market” were issued for two blockchain companies: SEBA Crypto AG (Zug) and Sygnum AG (Zurich).

On materials of the following website:

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