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Crypto Exchange

  • Direct exchange of cryptocurrency for fiat or other cryptocurrency is subject to AMLA (Supervision and AML)
    • For spot transactions, duty to identify client from CHF 5,000 in currency trading
  • Exchanges must take appropriate measures to ensure the client is the owner of the wallet
  • Banking/FinTech license is generally not required, unless currency from clients on a commercial basis is accepted and kept in own accounts
    • cryptocurrency exchanges that maintain accounts for investment in various currencies for their clients are not covered by the settlement accounts exemption from deposits under the Banking Act
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