Belgian crypto market maker Keyrock has secured a key regulatory approval from the Swiss Financial Services Standards Association (VQF).
The VQF is responsible for upholding anti-money laundering regulations in Switzerland. Keyrock has complied with all applicable local legislation in Switzerland.
Keyrock has been permitted to operate in Switzerland as a financial intermediary and offer its services to cryptocurrency companies and investors. This permission is comparable to those of other cryptocurrency firms, such as Bitcoin Suisse and BitGo, well-known players in the market who also acquired VQF licenses.
Switzerland is known for having a very favorable legal system for the growth of the crypto business market segment. The nation has taken action to promote growth in the cryptocurrency industry by revising current fiscal, compliance, and finance legislation.
The Swiss government created Taskforce Blockchain to regulate further the blockchain and Initial Coin Offering (ICO) sector. Important ministries and financial, economic, and educational sector representatives head this working committee.
By involving various stakeholders, such as attorneys and members of the Swiss blockchain startup ecosystem, the government has ensured a thorough and inclusive approach to regulation.
