- SEBA Crypto AG and Sygnum AG become the first blockchain companies to receive a banking license from the Swiss regulator.
- The two firms now have the mandate to offer “services for institutional and professional customers.”
Switzerland is gradually becoming a blockchain and cryptocurrency haven in Europe. Its financial regulator Financial Market Supervisory Authority FINMA just released new guidelines for anti-money laundering directed at financial services providers registered with it. The guidance applies to providers within the blockchain technology.
However, the most significant news is that fact that FINMA has issued two blockchain forms with banking and securities licenses. The two companies are SEBA Crypto AG currently registered in Zug and Sygnum AG currently registered in Zurich. The two firms now have the mandate to offer “services for institutional and professional customers.”
The new anti-money laundering guidance according to the information on FINMA’s website:
“Provides information about this technology-neutral application of the regulation to payment transactions on the blockchain. 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.”
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