The award-winning institutional digital asset custodian and trading solution provider, Copper.co, announced its approval for membership of Switzerland’s regulatory body, The Swiss Financial Services Standard Association (VQF).
The approval affirms the company’s compliance with Switzerland’s anti-money laundering guidelines thereby allowing the unit to function in Switzerland. Thus, the approval reinforces Copper’s position as a trusted custodian of digital assets.
The CEO of Copper.co, Dmitry Tokarev, commented, “We’re delighted to have received this approval from VQF, formalising our place in the Swiss financial ecosystem.”
Calling Switzerland the pioneer location for digital assets, the CEO said the country provides an appropriate foothold for growing the firm’s European presence. He further added, “We’re thrilled to be part of the thriving crypto hub in Zug as we look to globally scale our business.”
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It is noteworthy that VQF is the largest and oldest cross-sectoral Self-Regulatory Organisation (SRO) and is officially authorised by The Financial Market Supervisory Authority (FINMA). FINMA is a regulatory body for Switzerland’s financial services.
VQF is responsible for the compliance of financial agencies in Switzerland. It is also majorly responsible for the Anti-Money-Laundering regulations.