Swiss financial markets regulator gives Crypto Funds AG the green light

Mattie Hansen

The Swiss Financial Market Supervisory Authority (FINMA) is proving the country’s government is set on encouraging crypto investments. FINMA has licensed Zug-based Crypto Fund AG, a subsidiary of Crypto Finance AG to provide various crypto assets to Swiss institutional investors.

Back in June, Crypto Fund received a limited license that allowed the company to distribute “offshore based cryptocurrency” funds to investors. Nevertheless, the new license allows the Fund to act as an asset manager offering investment advice as well as various investment products that track Bitcoin and other cryptocurrencies.

The fund was founded in 2017 by Jan Brzezek, former UBS banker, under Switzerland’s Collective Investment Schemes Act (CISA). Regarding the FINMA approval, Brzezek said the importance of cryptoassets couldn’t be stressed enough and his company’s aim is to “accelerate maturity” in its market.

“Regulatory recognition remains highly sought after by participants, as seen in recent press and company statements.”

Chief operating officer of Crypto Fund AG, Mathias Maurer, said:

“The authorization represents our professional work over the last 12 months and is a major milestone for us. Our thanks go, above all, to our partners who made this ground-breaking authorization possible and to FINMA for the good cooperation.”

Switzerland is known for its beneficial crypto laws and this year they continued on the same path by publishing a collection of guidelines focused on tokens that would be labeled as securities and on how crypto businesses can comply to the regulations while performing ICO activities.

Zug-based startup SEBA Crypto AG is also eager to receive a banking and securities license from FINMA in order to become a regulated crypto bank.

The head of the startup is Guido Buehler, a former UBS banker. The company’s goal is to fill a critical missing element of the currency ecosystem,” since most banks are not inclined to open accounts for companies involved in the blockchain or cryptocurrency spheres.