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Swiss Fintech License Allows Blockchain, Crypto Firms to Accept $100 Mln in Public Funds

Discussion in 'General Discussion' started by Arpit, Dec 3, 2018.

  1. Arpit

    Arpit Moderator Premium Member

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    The Swiss financial regulator revealed that license pursuants, which can be blockchain-related and crypto-related firms, will be able to apply for the fintech license with the state authority starting from 2019.

    The license, which FINMA notes has “relaxed requirements” under the country’s banking ordinance, allows fintech companies to accept public deposits of up to 100 million Swiss francs (CHF), or around $100 million. Within the terms of the license, companies are neither allowed to invest the public deposits nor pay interest on them.

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