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FINMA thinks stablecoin issuers are a threat to Swiss banks

Summary by Cryptopolitan
The Swiss Financial Market Supervisory Authority (FINMA) sees stablecoin issuers as a problem for the country’s banks. Its 2019 guidelines already highlighted concerns about the legal and regulatory aspects of stablecoins.  Since then, several projects have launched in Switzerland, making this issue even more pressing.  Stablecoins holders typically have a payment claim against the issuer, which categorizes these claims as either banking deposit…
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