According to a recent report from swissinfo.ch, Switzerland’s Financial Market Supervisory Authority (FINMA) has given strong guidelines to banks dealing with crypto asset trades. To account for the risk involved in the loss of capital this was issued for the safety of the customer.
Key points from FINMA’s report :
Crypto-trading are capped at 4% of bank’s total capital and if it is to be surfacing above that the authorities have to be informed about it.
Banks & Security dealers should assign a flat risk weight of 800% to cover market and credit risk against crypto assets.
Though the report ensures safety measures that FINMA takes against the crypto assets but hasn’t released official rules for how a swiss bank should deal with crypto assets. In February 2018, FINMA issued an official guidance for Initial Coin Offering (ICO) after they received a large number of enquiries on the subject.
The agency said it regards “asset tokens” as securities, which implies that there are securities and civil law requirements for trading such tokens in the open market. “Payment tokens” and “utility tokens” were unlikely to sit in the securities category
Switzerland is one of the leading countries in Europe in the latest blockchain drive, as far as the regulations are concerned they are very careful and analyse individual project with its applicability of regulation to crypto tokens on a case-by-case basis just like the United States.