FINMA publishes new fact sheet on virtual currencies
On September 3rd 2018, FINMA published a new fact sheet on dealing with virtual currencies, such as "Bitcoin". The fact sheet provides information on licensing requirements under financial market law and risks associated with the blockchain technology. This technology makes it possible to manage monetary units of virtual currencies in a computer network. This network enables decentralized currency trading on the Internet, in which neither the state nor other banks are intermediaries.