The financial application Aximetria has obtained a license to provide financial services from the Swiss regulatory authorities.
The Financial Market Supervisory Authority (FINMA) must approve the activities related to cryptocurrencies and impose clear rules for these companies. For example, they must comply with anti-money laundering (AML) and Know-your-Customer (KYC) legislation.
“The Swiss license is of vital importance to Aximetry and our customers, partners, investors and industry in general, including the blockchain ecosystem,”
commented Alexey Ermakov, founder and CEO of Aximetria, in the press release.
This license will allow the company to function as an intermediary for cryptocurrency trading and will clarify the registration process for new users.
Switzerland offers a legal framework for crypto space
Switzerland continues to solidify its leading position in the blockchain and crypto fields by implementing regulations. Due to this fact, companies interested in carrying out activities in this field benefit from legislative certainty.
This month, for example, Bitcoin Suisee received a broker-dealer and banking license from FINMA.
“Compared to the EMI (Electronic Money Institution) license, which is the most popular regulatory standard for European and British companies, the Swiss license is much more desirable for a fintech company. This is because it also extends to crypto laws in Switzerland and offers a wide range of future business developments, including loans, FX, electronic accounts and salary projects. “