Copper’s Swiss Subsidiary Receives Regulatory Approval for Anti-Money Laundering Measures

Copper, a cryptocurrency custody provider, announced on Monday that its Swiss subsidiary had been approved by the country’s Financial Services Standard Association. The VQF is a self-regulatory organization that has been recognized by the Swiss Financial Market Supervisory Authority (FINMA). Copper’s approval attests to its adherence to local anti-money laundering regulations. Copper’s Swiss unit gains regulatory nod for anti-money laundering standards https://t.co/7lZfbwJBjZ — Be Crusader (@BeCrusaders) May 31, 2022 Lowery said in a statement, “As Copper expands globally, VQF’s validation underscores our commitment to working with regulators worldwide, to standards set in multiple jurisdictions, and to become a leading digital asset custody and infrastructure provider,” Copper’s chief legal officer said, Carly Nuzbach. The approval comes after the Financial Conduct Authority (FCA) took a long time to accept some of the UK’s most significant crypto asset providers to its anti-money laundering register. Copper is still included on the regulator’s provisional crypto-asset register, which was put in place to let businesses continue operating in the UK while the regulator decides on their fate. That list is getting shorter. Copper, neo banking major Revolut, trading platform CEX.IO, and custody service ITI Digital, formerly known as Rubicon, were the four companies remaining. Firms will be obliged to cease all crypto-related activ...