eprivateclient took a quick look at what’s been going on in Europe…

The Swiss Financial Market Supervisory Authority FINMA has published guidance on how it applies Swiss anti-money laundering rules to financial services providers supervised by FINMA in the area of blockchain technology. FINMA has also issued banking licences to two new blockchain service providers.

FINMA recognises the innovative potential of new technologies for the financial industry. However, blockchain-based business models cannot be allowed to circumvent the existing regulatory framework. This applies particularly...