SWISS STOCK EXCHANGE RULES OUT BITCOIN TRADING

EMILIO JANUS | May 07, 2019

SWISS STOCK EXCHANGE RULES OUT BITCOIN TRADING
We all thought… even SIX initially suggested that the platform would include digital currency trading. However, it quickly rephrased itself, stating there was not yet a final decision on whether to include existing non-security tokens. A more solid indication of plans for the SDX came earlier this year when SIX suggested that it would launch its own token. There are now no plans to allow cryptocurrency trading on the platform at all. The problem, according to Zeeb, is knowing who is behind the trades and where the coins are coming from. We have responsibilities in terms of ensuring that appropriate anti-money laundering and transaction monitoring processes… are in place. The way bitcoin is currently set up and traded, it wouldn’t meet the criteria for SDX. On the possibility of linking up with a cryptocurrency exchange at a later stage, Zeeb said that it would require a legitimate liquidity pool for cryptocurrencies. This would have to be fully know-your-customer and know-your-coin compliant before SIX could consider such a move.

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