The Swiss Financial Market Supervisory Authority has published new guidance on how it applies Swiss anti-money laundering rules to the financial services providers it supervises in the area of blockchain technology.
“FINMA recognises the innovative potential of new technologies for the financial industry,” the government body said. “However, blockchain-based business models cannot be allowed to circumvent the existing regulatory framework. This applies particularly to the rules for combating money laundering and terrorist financing, where the inherent anonymity of blockchain technology presents increased risks.”
