The Swiss Financial Market Supervisory Authority (FINMA) has announced on Monday, December 3, that local blockchain and cryptocurrency startups can now apply for a new fintech license that would allow them to handle deposits of up to 100 million CHF ($100 million), just like traditional banks. According to the official announcement, starting from January 1, […]
Cryptocurrencies – those in the know are abuzz with excitement, and those who have a just a passing interest immediately paint the industry with the same brush as pyramid schemes or bubbles. So, when a digital money platform that offers both fiat and cryptocurrency services is awarded an FCA licence – people take notice.
According to Alexei Moiseev, deputy minister for Russia’s ministry of finance, the department has no plans to issue licenses for bitcoin sales.
According to the Federal Financial Monitoring Service, Russian cryptocurrency market employs about 100 thousand people today. Therefore, the question of licensing those companies requires a solution.