The Swiss National Bank is reportedly amenable to expanding its digital currency project. “We would like to see a pilot which develops, with more banks joining and a higher volume of transactions,” said governing board member Antione Martin, whose comments at the the Point Zero Forum in Zurich on Wednesday (July 3) were reported by...
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Swiss Regulator Says HSBC Violated Money Laundering Regulations
Swiss financial market supervisory authority FINMA has ruled that HSBC Private Bank (Suisse) SA violated money laundering regulations. This ruling followed enforcement proceedings opened by FINMA in December 2021 and focused on the financial institution’s banking relationships with two unnamed politically exposed persons, FINMA said in a Tuesday (June 18) press release. “HSBC Private Bank...
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Swiss National Bank Chairman Says Retail CBDC Too Risky
Swiss National Bank (SNB) Chairman Thomas Jordan said Monday (April 8) that the risks of a central bank digital currency (CBDC) issued to the general public would outweigh any potential benefits. Speaking at an event in Zurich, Jordan said both consumers and businesses have access to a wide range of payment instruments offered by the private sector, and...