Swiss Regulator Grants Two Crypto Firms with Banking License
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26 August
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The Swiss Financial Market Supervisory Authority FINMA has issued banking licenses to two blockchain service companies and published guidance on how it applies Swiss anti-money laundering rules to financial services providers in the blockchain industry.

According to the official report, SEBA Crypto AG registered in Zug and Sygnum AG registered in Zurich, which will offer services for institutional and professional customers have received for the first time licenses from the Swiss financial regulator.

The regulator's guidance explains that information about the client and the beneficiary must be transmitted with transfers of tokens so the provider receiving this information check the name of the sender against sanction lists or check that the information provided about the beneficiary is correct.

Earlier iHodl reported that Maxine Waters, a U.S. Democratic congresswoman, said she remains concerned about Libra, Facebook's stablecoin, after meeting Swiss regulators.

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