Switzerland introduces new guidelines for crypto companies

December 06, 2018
Darya Karatkevich

The Financial Market Supervisory Authority (FINMA) of Sweden recently released a new set of guidelines companies can follow in order to procure the new FinTech license. Cryptocurrency and blockchain companies are now eligible to apply.

switzerland crypto

The license gives companies the ability to accept public deposits up to 100 million in Swiss Francs (CHF), a perk previously reserved only for banks. According to FINMA, the new “relaxed requirements” were put in place to promote innovation in the financial technology sector.

Switzerland is known to have a progressive view on cryptocurrencies, and has a history of bolstering the growing market. Additionally, this small European country is home to hundreds of startups that are able to profit through the country’s lax and innovative policies.

These new guidelines come at a time when cryptocurrency markets are in peril. Now that Fintech licensure is more accessible, it’s more than likely that Switzerland-based companies will seek approval.

Post written by Darya Karatkevich
Darya is a blockchain market observer with 5+ years of experience as an author and editor for major tech blogging platforms. Her fortes are blockchain technologies and solutions, cryptocurrencies and crypto-related regulations.

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