the Swiss bankers Association calls on banks to facilitate blockchain companies

Swiss bankers Association (SBA) and the Association Cryptocoryne Switzerland (СVA) has released new guidelines designed to standardize work with blockchain companies and to help develop the new industry.


On Friday, the Swiss bankers Association (SBA) has promulgated a new Directive on the treatment-related cryptocurrency and bloccano firms, which aims to promote the development of the blockchain ecosystem in Switzerland.

The new Directive was already approved by the Swiss regulators: Swiss service for financial market supervision (FINMA) and the Ministry of Finance of Switzerland (FDF).

Published directives developed in conjunction with the Association Cryptocoryne Switzerland (CVA), whose President, Oliver Rossmann, said:

“We have seen a lot of positive growth of the ecosystem over the last 18 months, and now it is very important that the SBA, CVA and government could come together to develop a solution that simplifies the constraints that stand in the way of growth”

The organization felt it necessary to make a clear distinction between blockchain companies that raise capital through ICO, and those who are not affiliated with the ICO at all, which in turn should, in their opinion, be regarded simply as banks, representatives of small and medium enterprises (SME). Related same c ICO blockchain, the company could be subject to additional regulation as a policy counteracting money laundering and KYC (“know your customer”.

According to SBA, the new Directive will help the Bank “to apply a differentiated approach when opening an account” blockchain companies. Switzerland is known as a country friendly mood for the blockchain industry, however, due to additional constraints, it becomes more difficult to open a Bank account for companies in the industry and is designed to fix a new Directive calling on local banks to meet the progress.

During the press conference, and strategic Advisor to the banking Association SBA, Adrian Salzmann said:

“We believe that the new directives that we have created on the basis of discussions between banks and innovative start-UPS, will facilitate the dialogue and will contribute to opening an account”

We will remind that earlier the head of the financial Department of Zug, Heinz Tannler, urged the Swiss bankers Association (SBA) to establish a working group to assist blockchain companies opening Bank accounts in Switzerland, and one of the largest banks in Switzerland, Hypothekarbank Lenzburg, has announced readiness to provide services to cryptocurrency businesses and private owners of cryptocurrencies. Also this month it became known that Switzerland is planning to create their own national cryptocurrency, backed by the Swiss franc.

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