Swiss Bankers Association Publishes Guidelines on Treatment of Blockchain Firms
Cryptovest
Published Sep 21, 2018 10:37AM ET
Updated Sep 21, 2018 11:41AM ET
Swiss Bankers Association Publishes Guidelines on Treatment of Blockchain Firms
The Swiss Bankers Association (SBA) announced on Friday that it had issued a new guidance document that addresses the treatment of crypto and blockchain-related firms in Switzerland. The guidance, which should be considered by member banks, aims to bring more clarity and remove the obstacles that constrain the development of the Swiss blockchain ecosystem. The guide was well received by the Swiss Financial Market Supervisory Authority (FINMA) and the Federal Department of Finance (FDF).
The SBA worked on the guidelines in collaboration with the Regulatory Working Group of Crypto Valley Association (CVA), an organization set up by SBA. The organizations found it necessary to make a clear distinction between blockchain firms seeking to raise funds through initial coin offerings (ICOs) and those that are not involved with ...
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Written By: Cryptovest
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