Swiss financial regulator approves launch of first crypto fund
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Swiss financial regulator approves launch of first crypto fund
Approved The Swiss Financial Market Supervisory Authority “FINMA” announced today, Wednesday, the first fund dedicated to crypto in the country.
FINMA has classified this new cryptocurrency fund among other alternative investment funds.
The Swiss regulator said that although the crypto fund will be regulated under the provisions of the current law, its approval was in a technically neutral way to allow for innovation.
The authority’s statement was as follows:
In order to facilitate innovation, FINMA applies the existing provisions of financial market laws in a consistent, technically neutral manner.
In order to mitigate the risks associated with the volatile crypto market, the new cryptocurrency fund will primarily invest in those assets that have a high trading volume.
Read:An NFT meme titled “Friendship Over” sells for 20 ETH (more than $50K)
Additionally, all cryptocurrency transactions will only be facilitated by counterparties and platforms located in a FATF member country and subject to Anti-Money Laundering (AML) regulations.
Crypto adoption is on the rise.
The adoption of cryptocurrencies in 2021 broke many records as it witnessed a wide participation from different parties, not only institutional investors but the expansion of adoption to include governments as well.
El Salvador has made Bitcoin legal tender while Paraguay, Argentina and Panama have also shown interest in Bitcoin adoption.
Several major financial institutions, including some former critics such as JPMorgan, Morgan Stanley and Goldman Sachs, are seeking to launch crypto-backed funds for investors amid high demand.
More importantly, some of the biggest names on Wall Street are also building and investing in mining infrastructure such as the world’s largest asset manager Blackrock.
The American city of Miami has also built its own cryptocurrency called “Miami Coin”, which operates on the same infrastructure as Bitcoin.
Read:Binance Lab led an investment round of 3.5 million for one of the companies
Read also:
Opinion: China’s Crypto Ban Could Be a Boon for Bitcoin Security
Revolut is preparing to launch its own cryptocurrency
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time