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FINMA (Swiss Financial Market Supervisory Authority)

RegulationUpdated: January 15, 2025
Also known as: Swiss Financial Market Supervisory Authority, FINMA Switzerland

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Switzerland's independent financial regulator overseeing banks, insurance, exchanges, and crypto firms

The Swiss Financial Market Supervisory Authority is Switzerland's independent financial regulator responsible for supervising banks, insurance companies, stock exchanges, securities dealers, collective investment schemes, and distributors, as well as crypto and digital asset service providers operating in Swiss financial markets.

FINMA applies a principles-based, technology-neutral regulatory approach to digital assets, classifying tokens into payment tokens, utility tokens, and asset tokens based on their economic function rather than technical implementation. The authority pioneered regulatory clarity for stablecoins and crypto banking, granting banking licenses to digital asset banks including SEBA Bank and Sygnum Bank that offer integrated crypto custody, trading, and tokenization services under full banking supervision. FINMA oversees Switzerland's Crypto Valley ecosystem centered in Zug, which hosts major blockchain projects including Ethereum Foundation and Cardano Foundation.

Under Swiss law, FINMA requires crypto service providers to comply with Anti-Money Laundering Act obligations, with requirements varying based on whether activities constitute financial intermediation, payment services, or securities dealing. The authority's guidance documents provide detailed frameworks for initial coin offerings, stablecoin issuance, and decentralized finance activity assessment.

Related Terms

StablecoinTokenized Securities
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