Switzerland issues new scheme to store cryptocurrencies

The  Association of Capital Markets and Technology (CMTA) of Switzerland published a common scheme of the crypto ecosystem for the custody and management of digital assets . The agency seeks to clarify the differences between cryptocurrency storage and traditional assets , establish operational and security requirements for investors .

“This will greatly contribute to the emergence of fully digital capital market infrastructures, including integrated custody and secondary trading venues. The benefits of digitization of the financial industry are such that the evolution towards decentralized infrastructures seems inevitable ”, assured the CMTA Secretary General, Fedor Poskriakov .

The Swiss agency also remarked that the storage of cryptocurrencies is different from that of traditional assets , which usually use centralized systems. In the crypto ecosystem , those who wish to invest or make digital financial movements need to have the relevant guarantees of having a decentralized infrastructure , developed and resistant to loss , theft or piracy .

Finally, the CMTA stressed the value of technological innovation for small and medium enterprises , both to simplify and to democratize their mechanisms of financing . Blockchain allows SMEs to issue and trade securities on decentralized platforms , eliminate intermediaries in their opening to large markets.

It should be noted that the CMTA is an independent organization from the Swiss state , established in 2018, with the aim of promoting the adoption of cutting-edge technologies , which are not for profit.

In the last hours , in addition, the country announced that it will help many fintech companies that could close due to the COVID-19 crisis. The government has already deployed measures to help different companies, and try to make layoffs and closings as few as possible .