How to apply for a Swiss digital currency license?

For the first time, the Swiss financial regulator has issued a banking license to a blockchain business.

The Swiss financial regulator, the Financial Market Supervisory Authority (FIMA), announced on the 26th that it issued banking and ** broker licenses to two blockchain service providers, SEBA and SYGNUM, which will serve institutional and professional customers. This is the first time that FNMA has issued this overseas financial license to such a company.

According to Swiss Swissinfo, SEBA and Sygnum are thus the new cryptocurrency banks, and the license clears the way for them to operate in the tokenized digital space. This is a major milestone in the field.

SEBA said it will officially operate in October this year, when it will fully meet the "secondary standards" required by FINMA, and it plans to provide corporate and asset management services for crypto assets. Sygnum has partnered with Deutsche Börse 156, Swiss Telecom, and other institutions6991 to list and trade tokenization on a distributed ledger 3780 technology platform**.

Also on August 26, FIMA published guidelines on how financial service providers in the blockchain technology space can comply with Switzerland's anti-money laundering regulations. FINMA noted that blockchain-based business models are not allowed to circumvent the existing regulatory framework, which applies in particular to regulations on combating money laundering and terrorist financing, as the anonymity of blockchain technology increases the risks in this regard.

Ethereum** is offering $2 million to reward Ethereum developers.

Ethereum** announced on the 26th that it will take the lead in co-funding more than $2 million, aiming to deepen the development of Ethereum Serenity. The customer development team that received these bonuses is currently working on the creation of multi-client testnets, including nine companies and researchers. Sigma Prime, a co-founded company co-founded by Consensys, received US$10,000 for Lighthouse, US$500,000 for STATUS and US$500,000 for Nimbus and Sigma Prime for Harmony.

Status also received $150,000 for its development of a network protocol.

Australia's ** exchange: will launch a ** settlement system based on blockchain technology in 2021.

The Australian Exchange (ASX) announced on August 26 that it has signed a memorandum of understanding with cloud computing software giant VMware and blockchain startup Digital Asset to collaborate on distributed ledger technology (DLT) in Australia and New Zealand, including the development of applications to replace ASX's existing clearing and settlement system, Chess.

ASX still plans to replace the existing chess system in March-April 2021. The new system will be gradually deployed in ASX's customer development environment, with customers and service providers already working on the clearing and settlement capabilities of the new system.

<> hello, you need to apply like this:

1. Establish a Swiss company, and the company's registered category is SA AG PLC Zhuozhi can provide services;

2. The Swiss company must have a Swiss resident as the nominal director to register the company and its application for entry and exit, which Jin Zhuozhi can provide;

3. Provide an asset deposit of 100,000 Swiss francs, of which 50,000 Swiss francs need to be frozen when the company is registered, and the company will be unfrozen after completing the registration. The Company is required to maintain a minimum margin of CHF 50,000 in the Company's account;

4. Assist in leasing Swiss office;

5. In addition to directors, it is necessary to hire compliance officers, auditors, accountants, etc. (Zhuo Zhi can serve as them);

6. The legal documents required for applying for a license are written by Zhuo Zhi lawyers.

To apply for a Swiss VQF digital currency license, a series of conditions need to be met:

1.Have at least one Swiss bank account and stable funds**;

2.Have a full understanding of digital currency business, and be familiar with risk management such as currency shielding, anti-theft and money laundering;

3.Comply with the requirements of the Swiss financial regulator FIMA on minimum reserves and other capital requirements;

4.Have a good reputation and reputation;

5.Have a clear organizational structure, including the board of directors, chairman, managing director, etc., and comply with the relevant risk management system;

6.Have sufficient technical reserves and maintenance support: including server security measures, 24/7 complaint handling, strict internal audit system, backup availability test results, etc.;

7.It has high-quality customer service, such as Wuyan customer relationship management system, timely feedback customer consultation, legal state trace certification account, customer data tracking system, etc.

The VQF Digital Currency Elimination License of the Swiss Financial Market Supervisory Authority is a compliance certification that requires compliance with a series of regulations and standards. The conditions for applying for a licence include:

1.The company is registered in Switzerland and has a clear business plan and compliance strategy.

2.Companies must comply with anti-money laundering and counter-terrorist financing laws.

3.We have a dedicated team and reporting mechanism, including anti-money laundering and internal control.

4.Compliance procedures must follow standard business processes.

5.Must have sufficient funds and liquidity.

The Swiss digital currency license is currently the fastest and most advantageous license for digital currency regulation in the world. In 2017, Switzerland** developed a legal framework for fintech companies, including digital goods traders and blockchain technology providers.

Conditions for the registration of a Swiss digital currency dealer company:

1.Incorporation of a Swiss legal entity with the registered category SA AG PLC;

2.A Swiss company must have two directors who are Swiss residents to register the company;

3.Provide an asset deposit of 100,000 Swiss francs, of which 50,000 Swiss francs, which need to be frozen at the time of company registration and unfrozen after the company is registered. The company is required to maintain a minimum margin of CHF 100,000 in the company's account;

4.Lease of office in Switzerland;

5.In addition to the directors, 1-3 employees need to be employed;

6.Open a bank account for corporate purposes;

The scope of the Swiss digital currency license that can be operated.

1. The company can provide digital currency transactions, digital currency libraries, and digital wallet services; Secondly, the following other services can be provided:

2. Conducting credit transactions (in connection with consumer loans or mortgages, factoring, commercial financing or financial leasing);

3. To provide services related to payment transactions, to make electronic transfers in the name of others, or to issue or manage payment methods, such as credit cards and traveler's cheques;

4. Trade in the customer's own name, or in the form of currency, money market instruments, foreign exchange, commodities, positive securities (**, **, value rights) and derivatives trading;

5. Asset management;

6. Holding or managing positive coupons;

7. Provide investment advice.

Sweden does not issue a digital currency.

In Sweden, the currency is not issued by **, but by private companies. Currently, 80% of transactions in Sweden are made electronically, which in general means:

The crime rate will be lower because robbers will not be able to get cash from someone or on the bus or even from the bank.

Treasury management costs go down because there is no cash to transport and store.

Privacy is reduced because electronic payment companies are familiar with what their customers need.

The dependence on technology has increased, and people have resorted to other means of trading when the trading system is offline.

Fraud rates in Sweden have continued to rise over the past few decades, which may provide a justification for electronic payment measures.

Cryptocurrencies can bring many benefits to electronic payments for private enterprises, such as increased privacy and security. In contrast to traditional electronic payments, digital currencies are anonymous, but ownership can be deciphered by third parties.

Here are a few great ways to do this: coinjoin can make multiple transactions integrated; CoinSwap can conduct very complex transactions, including two third-party transactions, and add security to the blockchain. These methods can prevent privacy from being attacked.

The entire system can be built on top of digital currencies to improve their security.

Another advantage not mentioned above is that digital currencies cannot be counterfeited, which means that no counterfeit money will be created. However, there are also risks in digital currencies, such as the recent fluctuations of Ruitai and Weimob coins.