Swiss Financial Regulator Gives First OK To Crypto Fund

By Lucia Osborne-Crowley (September 29, 2021, 4:49 PM BST) -- The Swiss finance regulator said Wednesday it has issued its first ever authorization to a cryptocurrency fund, but has placed restrictions on the investment fund to ensure it complies with anti-money laundering rules.

The Swiss Financial Market Supervisory Authority has given the regulatory green light to Crypto Market Index Fund, an investment fund that deals primarily in virtual currencies.

The regulator, known as FINMA, said it has restricted trading with the cryptocurrency fund to qualified investors. It has also required the fund to invest only in established crypto-assets with a sufficiently large trading volume.

The investments must be made through established...

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