RATE Group | More Frigid Crypto Regulations in Switzerland – Cryptocurrency Regulation
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More Frigid Crypto Regulations in Switzerland – Cryptocurrency Regulation

08 Feb More Frigid Crypto Regulations in Switzerland – Cryptocurrency Regulation

Posted at 10:56h in Cryptocurrency News by

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bitcoin switzerland

A new benchmark on the amount of cryptocurrency that can be purchased without personal details now exists in Switzerland.

Switzerland is looking to cripple crypto adoption by restricting the amount of digital currency crypto enthusiasts may own. This is according to a press release by The Swiss Financial Market Authority (FINMA).

FINMA has passed a new set of regulations expected to overhaul already existing crypto ordinances. January 1, 2020, marked the launch of this new set of regulations.  Alongside other regulations from FinSO (Financial Services Ordinance), FinIO(Financial Institutions Ordinance) and SOO (Supervisory Organisations Ordinance. The regulations by these bodies mandated FINMA to design news laws as touching several pressing technical crypto-related issues. In response, FINMA designed the Financial Institutions Ordinance (FinIO-FINMA). And also proposed several amendments to already existing regulations. FINMA will also play host to consultation on the follow-up…

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