What does it mean to be licensed and regulated to provide cryptoasset services?
Licensing, regulatory compliance and security have always been top priorities for SwissBorg.
When going through a licensing procedure, regulators extensively examine every aspect of a business's operations. With BlockNodes SAS being a MiCA-authorised crypto-asset service provider (CASP) in France the SwissBorg community can rest assured that SwissBorg meets the comprehensive standards set by the EU's Markets in Crypto-Assets Regulation and equivalent frameworks. These include rigorous requirements regarding the good repute and competence of SwissBorg's managers and shareholders, the security and resilience of our technological infrastructure, the segregation and safekeeping of client assets, as well as best-in-class Know-Your-Customer (KYC) and Anti-Money Laundering (AML) / Counter-Terrorist Financing policies and procedures.
Increased transparency
In line with our authorisations, we have put in place clear procedures, covering aspects such as conflict-of-interest, complaints-handling, and best execution. In addition, we commit to provide fair, clear, and non-misleading information about products and risks, and to comply with strict rules on market abuse.
Operational capital and mandatory audit requirements
In accordance with our authorisations we are required to maintain a substantial amount of operational capital at all times. We are also subject to mandatory external and internal audit obligations, which ensure the effectiveness of our internal controls and ongoing regulatory compliance. In practice, this means that we operate the "three lines of defence" internal control system, as standard for regulated financial service providers.
User asset protection
As a MiCA-authorised CASP, we are required to keep user crypto-assets and funds segregated from our own, with clear custody arrangements designed to protect users in the unlikely event of insolvency. Our safeguarding measures, governance arrangements, and conflict-of-interest policies are subject to ongoing supervision by our competent authority.
AML, KYC and Anti-Fraud
Beyond our comprehensive risk-based AML and KYC policies, we deploy state-of-the-art transaction monitoring and a range of sophisticated anti-fraud measures to support a safe experience for all of our users and ensure continuous compliance with applicable regulations.
Data protection
We maintain a strict data protection policy to ensure that all of our users' personal data are protected and only used in compliance with applicable regulations, including the GDPR.
Read our Privacy Notice.
IT security, Risk management and Business continuity management
We apply detailed internal policies aligned with MiCA's operational resilience and ICT risk requirements. These ensure that our IT infrastructure can withstand significant traffic and malicious activity, that our risk management network is comprehensive, and that our business continuity plan allows us to consistently deliver our services and remain operational at a level that meets or exceeds industry standards.