Switzerland wants banks and cryptocurrencies to play nice



switzerland blockchain banks cryptocurrency regulation guidelines2 796x448 - Switzerland wants banks and cryptocurrencies to play nice
Switzerland is offering a leg up to fledgling blockchain businesses in an attempt to affirms itself as a global cryptocurrency hub. The European banking haven is facing an exodus of blockchain startups due to uncharacteristically tough banking conditions, Reuters reports. Today, the Swiss Bankers Association (SBA) issued guidelines for the nation’s 250-plus banks to follow when doing business with cryptocurrency or blockchain-based startups. The guidelines outline a list of checks banks should carry out when opening accounts for blockchain businesses, whether or not they are participating in an ICO. “We believe that with these guidelines, we’ll be able to establish…

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