ECUREX First Digital Currency Exchange Platform to Be Fully Compliant with the Swiss Banking Act
ECUREX GmbH announced today that it has become the first digital currency exchange platform to be fully compliant with the Swiss Banking Act.
After sixteen months of investigation, the Swiss Financial Market Supervisory Authority (FINMA) released on 19 May 2015 an opinion letter according to which ECUREX’s business model is compliant with the Swiss Banking Act.
Commitment to compliance and industry best practice characterises the reputation and credibility of ECUREX, which has also been the first digital currency exchange platform to be compliant with the Swiss Anti-Money Laundering Act since April 2014.
Over the past two years, dozens of digital currency exchanges opened all over the world. Most of the remaining companies today are located in jurisdictions with lax Bitcoin regulatory environments. Regulation in Switzerland is stricter than in other countries, because it considers digital currencies like Bitcoin equivalent to any other foreign currency. This means that the professional operation of Bitcoin trading platforms constitutes financial intermediation with the requirement to comply with both the Banking Act and the Anti-Money Laundering Act.
“Switzerland probably has the most challenging regulatory environment for such a business and we are thrilled to be the first with a business model that allows us to operate here.” said Paolo Tasca, CEO of ECUREX.
“We think a stable regulatory environment is not only beneficial for us in the long-term, but also for our customers.”
The ECUREX trading system is not yet operating but the team announced that this is the next important milestone. ECUREX’s trading system will ensure the safest online trading experience for professional traders and financial institutions and its first release is scheduled.
About ECUREX GmbH
ECUREX is the Swiss-based digital finance marketplace for professional traders and financial institutions. Incorporated and headquartered in Zurich with representative offices in Frankfurt and London, ECUREX is dedicated to provide a professional, secure and fully compliant access to advanced financial instruments and information services ensuring speed of operations, reliability and convenience.
More information can be found on the ECUREX website: http://www.ecurex.com/
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