Switzerland’s blockchain-related businesses are one step closer to legitimacy. Local cryptocurrency startups can now apply for a new license that would allow them to handle deposits of up to $100 million, a right normally reserved for banks. The Swiss Financial Market Supervisory Authority (FINMA), has released strict guidelines for cryptocurrency businesses to follow if they hope to receive the coveted “FinTech” license required to manage large amounts of money on behalf of investors and customers. From 1 January next year, companies other than banks can formally request authority to accept public funds of up to $100 million as part of their…

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