13 December 2018

Finma: Bitcoin As Risky As Hedge Funds

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The Swiss financial market regulator wants companies to get proper cover against risks from crypto investments – and their protection ought to be iron-clad. 

Investments in crypto assets should be weighted at eight times their market value, according to Finma, the Swiss financial market regulator. That would put bitcoin and similar assets in the same category as hedge fund investments.

Sign of Things to Come

The recommendation by Finma came in a letter to Expertsuisse, an association of Swiss fiduciaries, said, a government-sponsored news portal. There is no official guideline from Finma available yet.

The letter however gives an indication of how the business will likely be treated by the Swiss administration and will be studied closely by budding crypto banks such as Seba or Mont Pellerin.

Click here for the original article.

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