Swiss Crypto Broker Bitcoin Suisse Applies for Banking and Securities Licenses

Bitcoin Suisse, a crypto-broker and pioneer of Switzerland’s “Crypto Valley,” has taken anticipatory steps to comply with a “maturing” regulatory environment.

The firm announced on Tuesday that it has applied for a banking license with Swiss Financial Markets Supervision Authority (FINMA), as well as a security dealer’s license, mandated by the Stock Exchange and Securities Trading Act (SESTA). In the past, financial authorities at the Swiss Federal Council said blockchain and distributed ledger technology will be governed by existing regulatory schemes.

However, a Suisse company representative said:

“We believe that in the long-term, more regulation will follow, as soon as the legislation catches up with the technological developments of the space. We believe that within this new regulatory environment, companies without the necessary licenses will have a limited ability to serve clients with the full spectrum of high quality, innovative…