Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
The Swiss financial regulator
Stock Market

Swiss financial regulator allows cryptocurrency fund activity

12.06.2022
2 min read

Swiss financial regulator improves laws for cryptocurrency market

The Swiss financial regulator has given the go-ahead for a cryptocurrency fund, which happened for the first time in the country’s history. The latter will have a Crypto Market Index 10, and the composition will include 10 digital assets. All work of the fund will be subject to the laws of Switzerland and completely legal.
It is organized by PvB Pernet von Ballmoos AG, which is engaged in investment management, as well as the Swiss Crypto Finance. The function of digital asset custody is assumed by the SEBA bank, which has a special license for this activity.
The purpose of the organization of such a fund is to track and analyze the dynamics of the most popular cryptocurrencies and tokens. The Crypto Market Index 10 information will allow forecasting the path of development for these assets, and will also provide market participants with reliable information about the processes on the crypto market. The Swiss regulator requires institutional investors to invest only through counterparties that are located in countries that are members of the FATF organization. FATF is a group that develops financial measures to combat money laundering. Counterparties are thus subject to the mechanisms and requirements for the prevention of money laundering.The Swiss financial regulator has approved a cryptocurrency fundNot so long ago, the Swiss agency that supervises the financial markets has obliged participants to undergo KYC checks in case of transactions with cryptocurrency in the amount of more than thousands of dollars. The regulator took such a step in order to expand opportunities for working with digital assets and at the same time to ensure the transparency and safety of such activities. It should be noted that Switzerland belongs to the states, which are friendly to new technologies. Due to this, a large number of cryptocurrency companies operate on the territory of the country. In addition, the regulator is expanding the regulatory framework in order to improve the business environment. The new rules concern tightening control over companies that deal with crypto-assets and blockchain. All their actions must comply with international standards. The need for user identification, according to the government, is due to high risks and an increase in cases of money laundering. The regulator understands that many companies may not like such rules, and they will leave the country’s market. However, security and transparency of transactions is an important part of a modern financial system.
Switzerland passed a law on the legal status of blockchain technology back in 2019, which made it possible to create clear standards for this segment and the cryptocurrency market. Now the legal system for this type of asset is considered one of the most versatile and thoughtful. This attracts businesses that work with digital money to the country.

Tags: Stock Market
0
Previous Post Stabilization of oil prices: a solution from the Japanese authorities Next Post How digitalization of banks is changing the financial market: development scenarios

You Might Also Like

chinese stocks
Stock Market
Goldman Sachs: Chinese stocks show low risk
18.12.2022
RUSNANO company
Stock Market
RUSNANO’s subsidiary Atea Pharmaceuticals is listed on the New York Stock Exchange
07.07.2021
default of Chinese companies
Stock Market
Record defaults by Chinese companies recorded
19.08.2022
Ola Electric
Stock Market
E-scooter maker Ola Electric reaches US$7 bn valuation
19.11.2024
commodities
Stock Market
Goldman Sachs: why invest in commodities
14.10.2022
record inequality in the U.S.
Stock Market
Record inequality in the U.S.: the reasons for the wealthy’s capital increase
10.07.2022

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics