Difference between revisions of "FINMA"

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=== Cryptocurrency ===
 
=== Cryptocurrency ===
 
https://news.bitcoin.com/bitcoin-companies-legally-operate-switzerland/
 
  
 
Switzerland is considered to be a crypto-friendly nation for the most part; Johann Schneider-Ammann, the country's economics minister, claims that Switzerland wants "to be the crypto nation." In February 2018, FINMA released a set of guidelines for local [[ICO]]s, in order to help clarify when to apply Swiss AML and securities laws.
 
Switzerland is considered to be a crypto-friendly nation for the most part; Johann Schneider-Ammann, the country's economics minister, claims that Switzerland wants "to be the crypto nation." In February 2018, FINMA released a set of guidelines for local [[ICO]]s, in order to help clarify when to apply Swiss AML and securities laws.

Revision as of 12:19, 17 August 2018

Swiss Financial Market Supervisory Authority (FINMA)
Finma.png
Founded 2009
Headquarters Bern, Switzerland
Key People Mark Branson, CEO
Employees 501-1000
Twitter @FINMA_media
LinkedIn Profile
Website FINMA Homepage

The Swiss Financial Market Supervisory Authority (FINMA) is Switzerland's financial markets regulator.[1]

Overview

FINMA was founded in 2009 by three Swiss institutions: the Swiss Federal Banking Commission (SFBC), the Federal Office of Private Insurance (FOPI), and the Anti-Money Laundering Control Authority (AMLCO). The establishment of FINMA was an attempt by Swiss regulators to consolidate the responsibility of supervising the financial markets to a single entity.[2]

FINMA is responsible for monitoring banks, insurance companies, stock exchanges, and other market participants in Switzerland, as well as enforcing Swiss financial markets laws.[3]

Cryptocurrency

Switzerland is considered to be a crypto-friendly nation for the most part; Johann Schneider-Ammann, the country's economics minister, claims that Switzerland wants "to be the crypto nation." In February 2018, FINMA released a set of guidelines for local ICOs, in order to help clarify when to apply Swiss AML and securities laws.

According to FINMA's official guidelines, there are three types of ICOs, based on the nature of the services their digital tokens confer:[4][5]

Payment ICO Utility ICO Asset ICO
Tokens can function as a means of payment over time, have no further functions or links to other development projects Tokens give access to a digital service Tokens pay dividends, interest, give rights to a share of company revenue
Must comply with AML regulations; not regulated as securities Regulated as securities Regulated as equities, bonds, or derivatives

References