Switzerland Issues Blockchain Guidance as Swiss E-Wallet Usage Takes Off

FINMA (The Swiss Financial Market Supervisory Authority) has issued administrative direction on blockchain transfers and how AML avoidance principles apply to such exchanges.

FINMA perceives the standards to be more stringent than those of the Financial Action Task Force (FATF), as they spread instalments between FINMA-regulated establishments and iligtimate providers. FATF's guidelines apply just to exchanges between managed entities.