The Swiss Financial Market Supervisory Authority (FINMA) has published a guideline for the upcoming FinTech license, which should be introduced on January 1, 2019. The permit aims to promote innovations, including cryptocurrency and distributed ledger technology (DLT), by easing some of the existing rules.

The new regime will allow FinTech projects to raise outside capital of up to 100 million Swiss francs ($100 million) with lighter regulatory requirements compared to the banking industry. However, the companies must use the money only for the development of their ideas, FINMA explained in its Monday statement.

The license targets only FinTech initiatives falling within the scope of Article 1b of Switzerland’s Federal Banking Act, which lists “asset managers, notaries a…

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