In our series regarding the Swiss Federal Council report of 14 December 2018 DLT-technologies and Blockchain, our EY-specialists provide you with an overview of the applicability of the current Swiss financial market law on your FinTech-, DLT-, Blockchain-, DAO- business as well as your tokens. Authors: Darko Stefanoski, Orkan Sahin, Loric Szalai
Switzerland’s Financial Market Supervisory Authority (FINMA), annouced new “relaxed” requirements that are applicable to innovative financial companies, such as companies in the blockchain and cryptocurrency space. Authors: Darko Stefanoski, Orkan Sahin
ENGLISH VERSION BELOW⇓ Der Bundesrat hat am 24. Oktober 2018 die mit Spannung erwartete Vernehmlassung zu den drei Verordnungen eröffnet, welche die Ausführungsbestimmungen zum Finanzdienstleistungsgesetz (FIDLEG) und Finanzinstitutsgesetz (FINIG) enthalten. Das Vernehmlassungsverfahren dauert bis zum 6. Februar 2019. Autoren: Stephan Geiger, Ricardo Schlatter
Paris, 19 October 2018 – Given the urgent need for an effective, risk-based response to AML risks associated with virtual asset financial activities, the Financial Action Task Force (FATF) revised its Recommendations on combating money laundering and the financing of terrorisms (AML/CFT). The FATF recognizes that virtual assets and related financial services have the potential … More Revised FATF Recommendations – Virtual assets and virtual asset service providers are subject to AML regulations
The Securities and Markets Stakeholder Group (SMSG) has published its advice to European Securities and Markets Authority (ESMA) on Initial Coin Offerings (ICOs) and Crypto-Assets on 19 October 2018. The goal of SMSG is to give advice to ESMA on steps it can take to contain the risks of ICO’s and crypto-assets, on top of … More Are Initial Coin Offerings sufficiently covered by existing regulation?