bitcoinBTC/USD
$ 20,173.00
ethereumETH/USD
$ 1,134.02
tetherUSDT/USD
$ 0.998911
cardanoADA/USD
$ 0.457472
xrpXRP/USD
$ 0.325397
usd-coinUSDC/USD
$ 1.00

Switzerland Now Has its First Cryptocurrency Fund

Switzerland’s First Cryptocurrency Fund

People, businesses, and governments are becoming more dependent on cryptocurrencies. Their popularity has soared in recent years and many countries have adopted cryptocurrencies. 

Its adoption was recently noticed in Switzerland as well, as the first cryptocurrency fund has been approved by Swiss financial authorities.

The Swiss Financial Market Supervisory Authority (FINMA) has recently approved the first-ever crypto fund there, known as the Market Index Fund. Crypto Finance, the Swiss asset manager, launched the fund through PvB Pernet von Ballmoos AG, an investment management firm. SEBA Bank AG is the custodian of this regulation.

However, only qualified investors can have access to the funds, where cryptocurrencies that are blockchain-based are the planned investments. FINMA also suggested that the fund is designated for major leading cryptocurrencies that have a large trading volume. 

Crypto Finance states that one of the purposes of the Crypto Market Index Fund is to measure the performance of the Crypto Market Index, which is one of the main products of the SIX Swiss Exchange.

FINMA also stated that those willing to invest should only use counterparties of the Financial Action Task Force since they want to eliminate the possibilities of money laundering.

Additionally, SEBA Bank AG was also approved by FINMA through a CISA license. The former is a custodian service.

A recent announcement by China’s Central Bank regarding cryptocurrencies and new regulations adversely affected the market. 

However, such approaches by countries such as Switzerland could as well have a good effect on the crypto market.

Also read: Built-in Multi-Sig Wallets, a Simplified Update Process, and More are All Part of the New Ethereum Update

Also read:

Related News

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan.

The Withdrawal Limit Temporarily Reduced by CoinLoan

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan. The corporation cited the present market crash as the reason for the decision. Due to the change, customers are now limited to a $5,000 maximum withdrawal limit each day. In their announcement, they noted the following: “the interest we pay on the Interest Accounts is yielded by issuing overcollateralized loans to other platform users. Hence in some

Read More »
The price may perhaps clear the $1,200 obstacle above the next significant resistance, which is located close to the $1,180 zone.

New Surge in Sight As Ethereum (ETH) Gathers Momentum

Following a period of stability at $1,000 versus the US Dollar, Ethereum (ETH) enters a new uptrend. Above the $1,150 barrier level, Ethereum (ETH) can move much higher. Near the $1,070 region, the pricing was able to overcome a few significant obstacles. Even the 61.8 percent Fib retracement level of the significant decline from the swing high of $1,235 to the low of $997 was tested by the price. The

Read More »
In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government.

Crypto Policy Symposium 2022: The First Anti-Crypto Conference

In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government. Critics of the industry and doubters have joined together to host their own anti-crypto conference where they can express their doubts and connect with legislators in the midst of the most recent crypto bear market. The Crypto Policy Symposium promises to provide skeptics a platform

Read More »

My Coins

bitcoinBitcoin
$ 20,173.000.38%
ethereumEthereum
$ 1,134.021.57%
cardanoCardano
$ 0.4574722.6%
tetherTether
$ 0.9989110.12%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org