Stock Groups

Swiss markets watchdog approves first crypto assets fund By Reuters

by Mike Robinson

[ad_1]

© Reuters.

ZURICH (Reuters), – Switzerland’s financial market supervisor announced Wednesday that it has approved the first crypto asset fund.

According to the Swiss Financial Market Supervisory Authority, (FINMA), only qualified investors can access the Crypto Market Index Fund. It is also classified under “other funds of alternative investments,” with specific risks.

Blockchain or distributed ledger technology is the foundation of cryptocurrency assets.

“In order facilitate serious innovation,” FINMA stated, adding that it applies existing financial market laws in a consistent technology-neutral fashion. It also ensures that existing rules aren’t evaded by using new technologies.

FINMA has stated it requires that funds only approve investments in crypto assets. This is because these assets can pose particular risks.

FINMA stated that investments must also be made via established counterparties or platforms that are based within a Financial Action Task Force member country and subject to anti-money laundering regulations.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are provided by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]