Swiss Stock Exchange Chairman Endorses the E-Franc

Romero Lacher thinks that E-Franc "would be good for the economy"
26 February 2018   417

Chairman of the Swiss Stock Exchange SIX Romero Lacher believes that the idea of launching a crypto-currency version of the Swiss franc has many "positive aspects".

In a conversation with the Financial Times, Lacher said that his company will give all possible support to this initiative, adding that "he does not like cash".

I believe there would be a lot of upsides, we would be strongly supportive … An e-franc under the control of the central bank would create a lot of synergies — so it would be good for the economy. I don’t like cash.

Romero Lacher

Chairman, SIX

Switzerland is known as one of the most focused on the sphere of crypto-currencies and blockchain of the world's jurisdictions, however, in its banking industry, digital currencies have not yet spread.

This was again reminded by the National Bank of Switzerland, saying that the country "does not need" in the so-called "e-franc" at the present time.

I think the strategic direction is good, but it’s like going into fog. You don’t know what you will see on the other side. Many mistakes will be made, but we will also learn a lot and I am sure, we will be successful. My worry is that until recently, the value of cryptocurrencies has only been in one direction — up. After the first ICO to collapse, there will be burnt fingers.

Romero Lacher

Chairman, SIX

Lacher, in turn, shares the cautious view of the regulators on the ICO.

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   74

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.