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Swiss blockchain company received regulatory approval, will obtain a banking license in 2019

Swiss September 5, according to Reuters, the Swiss blockchain startup Smart Valor has been approved by the country regulators to conduct business in the local financial market.

Smart Valor will be regulated by the Local Financial Services Standards Association (Vqf) rather than by the national regulatory agency Financial Markets Regulatory Authority (FINMA). The Financial Services Standards Association (FINMA) authorizes the Financial Services Standards Association (Vqf) to check compliance with anti-money laundering (Aml).

Financial intermediaries approved by regulators will give Smart Valor more credibility, and Smart Valor will be actively monitored to comply with anti-money laundering mechanisms. However, it is unclear whether other companies in China related to the blockchain have obtained approval from financial intermediaries. In this regard, both FINMA and vqf refused to respond accordingly.

According to Reuters, Smart Valor plans to launch an online platform for cryptocurrency trading in the fourth quarter of 2018 . His company is also applying for a Swiss license, hoping that the company will provide securities investment services in the first half of 2019. Clever and courageous founder Olga Feldmeier told Reuters that economic passivation will change the way people treat investment:

“Certification has changed the way people own things, increased liquidity, and enabled more investors to take advantage of these investment opportunities.”

Switzerland is one of the few countries that actively develops or adjusts legislation to address the development of blockchain. The country’s geographical Swiss is in the world’s most famous encryption, the state of Zug. In early July, the Zug State Government tried the blockchain voting system.

[su_quote]This article is writing on 07 Sept 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258[/su_quote]

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