France To Block Libra But FINMA Eager For Regulation

Fresh reports have revealed that France wants to block Facebook’s Libra cryptocurrency in Europe. Meanwhile, financial regulators in Switzerland say they are open to international cooperation in the creation of a regulatory framework for the proposed cryptocurrency project. Libra Shall Not Pass London-based City A.M. has released a report purportedly from AFP that regulators in […]

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Facebook Libra Brings ‘Risks and Opportunities’: Swiss Watchdog Chief

The head of the Swiss financial markets watchdog has spoken out on the perceived pressure for the nation arising from Facebook’s Libra cryptocurrency project being based in Geneva, as well as the potential opportunities cryptocurrency tech brings. In an interview with the Neue Zuercher Zeitung newspaper, Mark Branson, director of the Financial Market Authority (FINMA), said that […]

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Facebook’s Crypto Libra Isn’t Getting Away With Measly Swiss Payments License

Switzerland’s financial regulator will subject the ‘Libra’ project to further scrutiny. | Source: Shutterstock Switzerland’s financial regulator has indicated that Facebook’s cryptocurrency project Libra will be required to meet additional requirements besides getting a payment system license prior to starting operations. In a press release, the Swiss Financial Market Supervisory Authority (FINMA) stated that the […]

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Swiss Regulator Licenses Two New Blockchain Companies As It Shores Up Legal Requirements

Swiss financial authority FINMA offered guidance this week on anti-money laundering (AML) requirements for blockchain-based companies even as it granted broker-dealer licenses to two new blockchain companies. FINMA considers AML to be “technology-neutral” and expects all payments, including blockchain transactions, to follow the requirements. The gist is simple: “Institutions supervised by FINMA are only permitted […]

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US Lawmakers to Discuss Facebook Libra on Swiss Visit: Report

A delegation of U.S. lawmakers is set to discuss Facebook’s Libra cryptocurrency project with the Swiss data privacy chief when they visit the country this week. Local news source NZZ am Sonntag said Saturday that a six-member group from the U.S. House of Representatives’ Financial Services Committee plans to meet Adrian Lobsiger, the Swiss Federal Data Protection and Information Commissioner, to […]

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