Sept. 11th: FINMA Releases Guide on Stablecoins Same Risks, Same Rules

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The Libra Association seeking a Swiss Payments License. Mastercard. has partnered with our three to pilot a cross border payments solution. and. Finance us is planning to open deposits. Next. Week. I'll everyone welcome to this weekend crypto. This is your daily round up for Wednesday September eleven two, thousand nineteen. The Swiss Financial Market Supervisory Authority known as Venema has released new stable coin guidelines today. The report notes an increase in stable core projects since two thousand eighteen. FINRA confirmed that they received a request from the libra ascending station for an assessment of its libra project under the Swiss Supervisor Law. Finna would treat stable coins just like existing blockchain based tokens were they focus on the economic function and purpose of a token. States quote the requirements under Supervisory Law may differ depending on which assets, for example, currencies, commodities, real estate or securities. The stable coin is backed by and illegal rights of its holders and quote the Liberal Association is seeking a Swiss payments license as they asked, Finnmark for an assessment of how they classify the plant libra project and issuance of a stable coin under Swiss supervisory law according to Reuters. The Liberal Association stated quote we're engaging in constructive dialogue within Ma, and we see a feasible pathway for an open source blushing network to become a regulated low friction, high-security payments system, and quote. has entered with answer Bryce blockchain software provider are three to pilot a new blushing cross border payments. The project aims at connecting fatter payment schemes with banks backed by mastercards clearing and settlement network. According to our three, the platform will be built on quarter enterprise the commercial version of arteries open source quarter network, Peter Klein Executive Vice President of the new payments platform at massacred stated quote developing a new and better cross-border payment solution by improving worldwide connectivity and the account to account space is central to massacres ambition. Our goal is to deliver global payment infrastructure choice and connectivity as demonstrated through our recent strategic acquisitions and partnerships including our relationship with our three end quote this comes out there MasterCard acquired global payments company Crohn's fast this

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