Swiss Bitcoin applies for a banking license from the Swiss Financial Market Regulatory Authority (FINMA)

According to CoinDesk, Bitcoin Suisse announced on Tuesday that it has applied for a banking license from the Swiss Financial Market Regulatory Authority (FINMA) and applied for a securities dealer license under the Stock Exchange and Securities Exchange Act (SESTA). In the past, the financial authorities of the Swiss Federal Council have stated that blockchain and distributed ledger technology will be managed by existing regulatory mechanisms. The company said in a statement that because "increasingly cryptographic assets and services comply with securities and banking laws," these priority licenses will expand the number of regulated services and products they can provide. Currently, the company’s representative declined to comment on specific assets, but said, “The securities dealer license will enable us to trade cryptographic tokens that are classified as securities by financial regulators.” This will include our own stable currency, Swiss encryption. franc.