A guide to setting up a crypto business in Switzerland

As the cryptocurrency world matures with more and more jurisdictions legalizing it and ensuring crypto becomes an industry standard, cryptocurrency receives a quality mark that proves that it can earn users' trust.

The Swiss Financial Market Supervisory Authority, or FINMA, regulates banks, crypto and fintech projects.

When you choose and apply for the right type of authorization for your business, keep in mind that this will determine your business opportunities and degree of responsibility for many years ahead. At the beginning of the journey, it all might seem so overwhelming and hard to understand that you will feel like leaving everything up to your lawyers.

You can start a crypto service in the so-called FINMA sandbox.

Depending on the project's infrastructure, the startup can entirely develop a product, accept customer money, sell financial services, issue bank cards, and can carry out many other activities even before obtaining authorization.

Companies can provide services to clients located in Switzerland and abroad, and to both enterprises and individuals.

The exception applies in accordance with article 5, paragraph 3, letter of the "Ordinance on Banks and Savings Banks" and subject to clarification No. 18 FINMA-Circular 2008/3.

The exception applies in accordance with article 3, paragraph 3, letter of the "Ordinance on Banks and Savings Banks.

Since crypto projects occupy a special place between the world of traditional finance and the world of digital assets, there are additional requirements for crypto companies in many countries, and Switzerland is no exception.

For each business model, you need to look for your own optimal authorization method that will allow you to bring the product to market faster and at lower costs.