Bitcoin 

Swiss Crypto Banks Receive Licenses From Financial Regulator

The Swiss Financial Market Supervisory Authority (FINMA) has reportedly granted two banking and securities dealer licences to crypto-focused banks. Two Swiss crypto-specializing firms, Seba Crypto AG and Sygnum have received banking and securities dealer licenses, the banks said in separate statements on Aug. 26. With the new license, Seba expects to officially launch its new trading platform platform in early October 2019, the company stated. Seba’s plans include the establishment of a digital asset platform for professional traders, firms and institutional clients, as well as custody storage and asset management.…

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Bitcoin 

Central Bank’s Draft Law Requires Licenses for Crypto-Related Activities

A new banking law drafted for the Central Bank of Egypt (CBE) would make it mandatory to obtain licenses in advance of creating, advertising or operating platforms for issuing or trading cryptocurrencies. The news was reported by online newspaper The Egypt Independent on May 28. Citing an official source’s remarks to the Egyptian MENA news agency, the Independent states that if passed, the draft bill will also empower the CBE’s Board of Directors to determine and issue rules for the trading and handling of cryptocurrencies in the country. According to…

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Bitcoin 

Seven Cryptocurrency Exchanges Could Receive FSA-Issued Licenses in Two Months

According to new insight into the Japanese financial agency’s review process of companies applying for a cryptocurrency exchange license, seven applications will be either approved or rejected within two months. Cointelegraph Japan reported on this development on Jan. 12. The new information in regard to the review process offered by the Financial Services Agency (FSA) revealed that it involves a lengthy procedure that takes almost six months from the time of application — which includes the submission of answers to over 400 questions — to official decline or approval. According…

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