Swiss Crypto Broker Bitcoin Suisse Applies for Banking and Securities Licenses
These anticipatory steps have been taken in face of a "maturing" regulatory environment, as the firm plans to expand its crypto-related financial services.
"We are not here to make such projects impossible," Mark Branson, CEO of the Swiss Financial Market Supervisory Authority, said of Libra.
FINMA's director has spoken out about the risks of working with a major project like Facebook's Libra, and said there are also potential benefits.
The SEC and CFTC have settled charges with XBT Corp. after alleging the company sold unregistered security-based swaps for bitcoin.
The non-profit set up to run Facebook's Libra cryptocurrency project is seeking to apply for licensing as a payment system in Switzerland.
Two Swiss startups received broker dealer licenses as FINMA hardens its AML requirements.