New financial blockchain services approved by FINMA

New financial blockchain services approved by FINMA - switzerland finance

FINMA, federal supervisory authority which operates in the Swiss financial markets has issued a communication announcing that for the first time it has provided an authorization to trade in securities and a bank to two suppliers operating through blockchain financial services. 

FINMA makes clear in its press release how i commercial models based on the blockchain and on its technology should not escape the constraint of regulation, especially as regards the fight against the financing of terrorism and money laundering. The regulatory procedures to which FINMA refers to are AML (Anti-Money Laundering) and the KYC (Know Your Costumer). 

Il document signed by the financial services authority in Switzerland it also stresses that the fight against money laundering can only be effective by correctly identifying those who carry out the transactions in this way it is possible to always control all the parties involved. 

After the preamble of the press release that underlines the importance of regulations in the blockchain sector, FINMA has granted two authorizations, one to Sygnum Ltd which deals with the trading and management of digital assets, such as digital franc (CHF) and bitcoin. The second financial blockchain to which it has given authorization is SEBA Crypto SA, a bank that aims to create a contact between traditional and digital assets.