In a press release provided to Cointelegraph July 29, Aximetria, which is based in the country, said the Swiss Financial Services Standards Association VQF license would allow it to function as a crypto intermediary and streamline its onboarding process. He continued: "Compared bitcoin license the EMI Electronic Money Institution license, which is the most popular regulation standard for European and British companies, the Swiss license is much more desirable for a fintech company.
This is because it also extends to crypto laws in Switzerland and gives us a wide range of future business development, including loans, FX, e-money accounts and salary projects.
This month, it emerged that a longtime Crypto Valley member, Bitcoin Suisse, had become the latest local firm to apply for banking and securities dealer licenses with FINMA. A positive outcome will be seen as especially pertinent given the state of cryptocurrency regulation in major markets this year, particularly in the United States, where lawmakers continue to debate the industry's future, often voicing polarized bitcoin license.