In Switzerland the first license to the cryptocurrency exchange is granted

For the first time the Swiss regulator of the financial markets (FINMA) has granted the license to the cryptocurrency exchange. Such actions confirm compliance of the company to the Swiss legislation on counteraction of money laundering and also the system "know the client" (KYC). In order that the exchange observed the legislation further, it will be controlled by the financial FINMA regulator.

On October 17 in the press release the Payment21 exchange has reported that obtaining the license became result of "one year of essential efforts".

It is not the first step of FINMA in the cryptosphere: On September 19 it has been reported that work of the E-Coin company is stopped. It was supposed that the project will release cryptocurrency, however, actually it was fraud. Therefore to save investors from financial losses, FINMA has issued detailed instructions.

Except that Payment21 will become the cryptocurrency exchange, she will also render services for retail dealers who want to accept cryptocurrency as payment for goods and services.