Keyrock, a market maker based in Belgium recently announced that they have received approval from the Swiss Financial Services Standards Association (VQF). The VQF is responsible for enforcing money laundering laws in Switzerland. This approval indicates that Keyrock complies with the regulatory requirements set by Swiss local laws. It allows Keyrock to operate as an intermediary in Switzerland providing its services to crypto companies and investors within the country.
This endorsement puts Keyrock on par with well known players in the crypto industry like Bitcoin Suisse and BitGo who are also authorized by VQF and considered leaders in the crypto sphere.
Switzerland is widely recognized for creating an environment that fosters the growth of the crypto sector. The country has adapted its existing regulatory and financial frameworks to support expansion and innovation in blockchain technology. In fact Switzerland has shown its commitment to enhancing regulations around technology and Initial Coin Offerings (ICOs) by establishing the Taskforce Blockchain. This task force is led by figures, from finance, economics and education fields.
To ensure an inclusive approach to blockchain and related fields the government is actively involving various stakeholders such, as legal advisors and members of the Swiss blockchain startup community.