What are the regulations for cryptocurrency brokers in Switzerland?

1 answers

• Dec 31, 2021 · 3 years ago
  As an expert in the field, I can tell you that cryptocurrency brokers in Switzerland are subject to strict regulations. The Swiss Financial Market Supervisory Authority (FINMA) is the regulatory body responsible for overseeing their activities. To operate legally, brokers must obtain a license from FINMA and comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. These regulations aim to prevent illicit activities and ensure the protection of investors. Brokers are also required to implement robust cybersecurity measures to safeguard customer assets and personal information. It's important for brokers to stay up to date with the latest regulations to maintain their license and reputation in the industry. At BYDFi, we prioritize compliance and adhere to all regulatory requirements to provide a secure and trustworthy trading environment for our users.
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