Regulation · Instrument · Switzerland · Guidance · Swiss Financial Market Supervisory Authority

FINMA Guidance 06/2024: Stablecoins, risks and challenges for issuers and guaranteeing banks

Sets out FINMA's current practice on stablecoins under existing Swiss law. Many Swiss issuers avoid a banking licence by obtaining a default guarantee from a bank; FINMA sets minimum requirements for such guarantees (for example, each holder must have its own claim against the guaranteeing bank and the guarantee must cover all public deposits) and warns of money laundering, terrorist financing and sanctions risks. Pending the new stablecoin law.

In force · effective 26 Jul 2024