RATE Group | FINMA Seeks to Stem Exodus of Swiss Cryptocurrency Firms
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FINMA Seeks to Stem Exodus of Swiss Cryptocurrency Firms

25 Jul FINMA Seeks to Stem Exodus of Swiss Cryptocurrency Firms

Posted at 07:29h in Cryptocurrency News by

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FINMA Seeks to Stem Exodus of Swiss Cryptocurrency Firms

Finance

The Swiss Financial Market Supervisory Authority (FINMA) has met with representatives of the country’s banking sector in the hopes of stemming a nascent exodus among cryptocurrency companies from Switzerland. The companies’ departures have been attributed to two Swiss banks’ decisions to no longer provide financial services to businesses dealing with virtual currencies.

Also Read: India Exchange Unocoin Suspends Withdrawals Following Central Bank Demands

FINMA Acts to Prevent Crypto Exodus

FINMA Seeks to Stem Exodus of Swiss Cryptocurrency FirmsSwitzerland’s financial regulators are taking steps intended to stem the perceived exodus of cryptocurrency companies from the nation, recently holding discussions with the Swiss National Bank and bankers’ association on how to increase the…

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