Swiss Cryptocurrency Finance App Gains Nationally Recognized AML License

The Aximetria-based personal finance application has been licensed for financial standards recognized by Swiss regulators.

In a July 29 public announcement to Cointelegraph, Aximetria, headquartered in the country, said that the Swiss Financial Standard Standards Association (VQF) license would allow it to function as a cryptocurrency broker and streamline its process integration.

The VQF license is approved by the Financial Market Authority (FINMA), the Swiss financial regulator. The award means that the current operator performs the tasks in accordance with the rules of the Money Laundering and Knowledge Management (KYC).

"The Swiss license is of importance to Aximetry and its customers, partners, investors and the entire industry, including the blockchain ecosystem," said Alexey Ermakov, founder and CEO of Aximetria. press release.

He continued:

"Compared to the EMI license, which is the most popular regulatory standard for European and British companies, a Swiss license is much more desirable for a financial engineering company. offers us a wide range of future developments, including loans, foreign exchange transactions, electronic money accounts, and salary projects. "

As Cointelegraph pointed out, Switzerland maintained its regulatory position in favor of cryptography after the annual conference of the Kriptolos Valley Association, its dedicated lobbying group with multiple business sectors.

This month it became clear that he was a longtime member of Crypto Valley, Bitcoin Switzerland, the last local company to apply for FINMA's banking and securities licenses.

A positive outcome will be considered, particularly relevant with regard to the current state of the cryptocurrency regulation, in key markets, particularly in the United States, where legislators continue to discuss the future of the sector, often expressing a polarized view.


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