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Swiss financial sector receives guidance on stablecoins from national supervisor

( July 26, 2024, 13:51 GMT | Official Statement) -- MLex Summary: Swiss financial entities received guidance on the issuance of stablecoins from the national financial supervisor Finma today. The guidance provides information on aspects of financial market law related to stablecoin projects and their impact on the supervised institutions, as well as commenting on default guarantees and their associated risks. The guidance also identifies the increased risks concerning stablecoin projects in the areas of money-laundering, terrorist financing and circumvention of sanctions.Statement follows. The guidance is attached....

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