20 Questions
What types of activities are permitted for SRO membership?
Launching an ICO (payment token) and accepting deposits from the public up to 1m CHF
What is the responsibility of SROs according to the AMLA?
Defining due diligence requirements under AMLA in their own regulations
Which activity is prohibited for SRO membership?
Exchanging securities tokens
What type of exchange is permitted under SRO membership?
Centralised crypto exchange FIAT/crypto or crypto/crypto
What is a prohibited activity for SRO membership?
Acting as a portfolio manager
What is the definition of a financial intermediary according to the text?
Any person who holds assets belonging to others in a professional capacity
What is the notice period for termination/non-transferability of VQF membership?
3 months effective at the end of the calendar year
What can lead to the loss of association membership according to the text?
Restructuring of the organization
What does VASP stand for and what activities are performed by VASPs according to the text?
Virtual Asset Service Provider; Exchange between fiat money and virtual assets only
What does AMLA stand for and what are some of the duties of due diligence according to AMLA?
Anti-Money Laundering Act; Duty of documentation and retention only
What is the definition of money laundering under the Swiss Criminal Code (SCC)?
Concealing or disguising assets of criminal origin or obtained through serious crime
According to Art. 260 quinquies SCC, what does money laundering include?
Allocating or raising funds for terrorist activities
Who is subject to the Anti-Money Laundering (AML) regime as per the discussed text?
Individuals engaging in activities suspected to be linked to a felony
What does money laundering aim to frustrate according to the Swiss Criminal Code?
The tracing or confiscation of assets with criminal origin
What constitutes an act of money laundering under Art. 305bis SCC?
Concealing or disguising assets of criminal origin or obtained through serious crime
What is the primary intention behind financing a violent crime according to Art. 260 quinquies SCC?
Intimidating the population or coercing a state or international organization
What is the purpose of the Travel Rule in the context of anti-money laundering regulations?
Ensuring the identification of the origin and tracing of financial transactions
What is the significance of frustrating the identification of asset origin according to AML regulations?
To hinder the tracing or confiscation of assets with criminal origin
What does Art. 260 quinquies SCC specify regarding financing operations of terrorist organizations?
It addresses the allocation or raising of funds for terrorist activities
What is the primary characteristic of assets targeted by money laundering activities as per the Swiss Criminal Code?
Assets that originate from a felony
Test your knowledge of SRO membership regulations, including permitted and prohibited activities, interaction with VQF, duties of due diligence according to AMLA, and the role of VASPs (Virtual Asset Service Providers). This quiz also covers the key facts about Self-regulatory organizations (SROs) and their supervision by FINMA.
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