#TradeStories 🟢$NIL 🟢$GUN 🟢$WCT
🌡️🍂Swiss banks are actively exploring the stablecoin space
💞According to ChainCatcher, Ledger Insights reported that the Swiss banking sector is actively exploring the stablecoin space to enhance global competitiveness and encourage financial innovation.
💥A recent report by the Swiss Bankers Association (SBA) indicated that although Switzerland faces strict regulations regarding anti-money laundering (AML) and know your customer (KYC) in the development of stablecoins, stablecoins are still considered an important opportunity to modernize the financial system.
☠️😉However, current Swiss regulations require stablecoin issuers to identify all holders at all times. This regulation has been criticized by industry insiders as "overregulation the Swiss way" and has limited the widespread adoption of stablecoins. To address these challenges, the Small Business Authority is considering central bank money-backed stablecoin models as reserves and is calling for a clearer regulatory framework to facilitate the development of stablecoins in Switzerland.
