Recently it became known that Crypto Fund AG got the right to give out capitals in Switzerland and received the title of qualified investors. Such permits are issued by FINMA, which is the main regulator of the financial market in the country. The company also filed a request for allowance to another service connected with crypto.
Positive Destination of Crypto Assets
The company Crypto Fund AG is a subsidiary of Swiss Crypto Finance Group (CFG), registered in Zug. Recently, it received the right to distribute programs of collective capital investments for highly competent depositors. CFG reports that this is the first time that the Swiss authorities give such a right to the business of crypto.
This news was also confirmed by FINMA, the main regulator of the financial market in the country. However, there were no clarifications about the fact that this type of permission was issued for the first time.
The report also says that this permission does not give the company the right to function as a manager for assets of funds associated with crypto. Despite this, Jan Brzezek, who holds the post of general director, stressed that the granting of this license was well thought-out and purposeful.
He also added that this is a far-reaching step, which is a stable support and the right decision to become the main link in the chain of crypto assets.
In addition, Crypto Fund AG requests permission from the Swiss financial leadership to create an investment mechanism of a passive nature. It is assumed that this mechanism will track the market index of both the fastest-selling crypto assets (up to 10 units) and digital tokens. Swiss bourse SIX is responsible for the computation and maintenance of this index.
Alpine Nation Welcomes Crypto
Over the past few years, Switzerland has taken a friendly position on crypto. In Zug, where Crypto Fund AG is registered, the so-called “Crypto Valley” is located, in which it is possible to see representative offices or even the headquarters of companies whose activities are related to crypto and blockchain. Even such a Chinese mining titanium as Bitmain found a place there. The country is still in doubt about the approval of the issuance of cryptocurrency at the state level. Although, a private person of the central bank has already reported on the ascent of this idea, and was of the opinion that currencies of this type benefit from any already issued state coin.
Even the traditional financial segment of enterprises has benefited from the positive regulation of crypto by the authorities of Switzerland. The obsolete financial institution Hypothekarbank Lenzburg positively accepted innovations and, having picked up the wave, began offering its services for opening bank accounts for the crypto business. The management of the bank decided to cooperate with the crypto sector, building everything on mutual trust.
A lively interest, along with private enterprises in the financial and technical area, was also picked up by the financial sector. An excellent example is the Swiss Federal Railways (state-owned), which has been practicing sale of bitcoins to the passengers for more than 2 years through specialized automatic machines, the number of which already reaches 1000.
Moreover, the homeland of Crypto Valley, the city of Zug, accepts bitcoins and ether as a payment for communal services, which includes even a fee for the registration of companies. The government plans to hold a voting based on the blockchain, to address a number of issues of regional significance.