<b>Swiss Regulator Provides Licenses to the Two Crypto Banks</b><b></b>
<div dir="auto">The Swiss Financial Market Supervisory Authority (<a href="https://www.ccn.com/swiss-regulator-grants-first-ever-banking-licenses-to-2-blockchain-firms/">FINMA</a>) has granted banking and securities dealers' licenses to the two Crypto-centred banks.</div>
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<div dir="auto">The regulator revealed in the news on Monday, stating that this is the first time it had granted this kind of licenses to the SEBA Crypto AG and Sygnum-blockchain service facilitators. Also the licenses will enable Seba Crypto and Sygnum to facilitate services to institutional clients and professional financers.</div>
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<div dir="auto">The organization made an isolated narrative:</div>
<h5><i><b>"Sygnum’s plans for corporates include the ability to raise new capital by producing asset tokens based on existing financial assets, thereby lowering capital raising costs and improving liquidity for issuers and investors." </b></i></h5>
<div dir="auto">Sygnum stated that regulatory license will enable it to present its virtual asset offerings to the market. This include custody and integrated liquidity forum for chief digital currencies inclusive of Bitcoin, Ethereum and virtual Swiss Franc tokens.</div>
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<div dir="auto">SEBA Crypto outlined that regulatory approval is an achievement for the whole virtual asset market space. And with this approval, SEBA also aims to initiate its new trading forum officially in early October 2019.</div>
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<div dir="auto">FINMA also released guidance today. The guidance narrates that existing<a href="https://www.cryptoknowmics.com/crypto/thailand-to-amend-the-countrys-laws-to-include-cryptocurrency-under-anti-money-laundering-rule/"> Anti-Money Laundering</a> (AML) legislation implement to blockchain service facilitators. These involve exchanges, wallet facilitators, and trading forums.</div>
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<div dir="auto">Swiss Regulator elaborated:</div>
<h5><i><b>“Institutions supervised by FINMA are only permitted to send cryptocurrencies or other tokens to external wallets belonging to their own customers whose identity has already been verified and are only allowed to receive cryptocurrencies or tokens from such customers.”</b></i></h5>
<div dir="auto">In addition, Regulator said:</div>
<h5><i><b>“FINMA-supervised institutions are thus not permitted to receive tokens from customers of other institutions or to send tokens to such customers.”</b></i></h5>
<div dir="auto">Furthermore, as per the Coin360, at the time of release, crypto markets are observing eminent profits. With Bitcoin up over 2.52% over the previous 24 hours to trade at $10,324.</div>

Swiss Regulator Provides Licenses to the Two Crypto Banks

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