FINMA Crypto Rules: What Swiss Crypto Businesses Must Follow in 2025

When operating a crypto business in Switzerland, you’re dealing with FINMA crypto rules, the regulatory framework set by the Swiss Financial Market Supervisory Authority for financial institutions, including crypto firms. Also known as Swiss crypto regulation, it’s one of the clearest, most predictable systems in the world—especially compared to the patchwork of rules in the U.S. or Asia. Unlike countries that ban crypto outright or leave it in legal gray zones, Switzerland treats crypto as a financial instrument and demands transparency, not prohibition.

FINMA doesn’t just care about whether you’re selling tokens. It looks at what you’re doing: Are you exchanging crypto for fiat? Are you managing client assets? Are you running a decentralized exchange? Each activity triggers different requirements. For example, if you’re a crypto exchange or wallet provider, you need a crypto licensing Switzerland, a formal permit from FINMA to operate legally as a financial intermediary in the country. Also known as FINMA license, this isn’t optional—it’s the only way to access Swiss bank accounts, process fiat on-ramps, or legally advertise services to Swiss residents. Without it, you’re operating illegally, even if your servers are overseas.

Then there’s AML crypto Switzerland, the anti-money laundering obligations that apply to all licensed crypto firms under FINMA’s guidelines. Also known as crypto AML rules Switzerland, these require strict customer identification, transaction monitoring, and reporting suspicious activity—just like banks do. You can’t just rely on KYC forms from your platform. FINMA expects you to verify the source of funds, track wallet movements, and keep records for at least ten years. And yes, they check. In 2024, FINMA fined two Swiss-based crypto firms over $1.2 million for failing to properly monitor transactions linked to high-risk jurisdictions.

Switzerland is also aligning with the EU’s MiCA compliance, the Markets in Crypto-Assets Regulation that sets uniform rules across the European Union for crypto service providers. Also known as MiCA framework, it’s not binding on Switzerland—but FINMA has made it clear they’re adopting similar standards to keep Swiss firms competitive and avoid regulatory arbitrage. That means if you’re planning to expand into the EU, your Swiss compliance setup will likely cover most of what MiCA demands. But don’t assume that means less work. In fact, it means more: you’ll need to document token classifications, publish white papers, and prepare for ongoing audits.

What you won’t find in FINMA’s rules is a blanket ban on any crypto asset. Bitcoin, Ethereum, even meme coins—they’re all allowed, as long as your business follows the rules. But if you’re promising guaranteed returns, running unregistered token sales, or ignoring customer due diligence, FINMA will come after you. They’ve shut down dozens of unlicensed platforms since 2020, and they’re not slowing down.

Below, you’ll find real-world breakdowns of how Swiss crypto firms are handling these rules in 2025—from licensing costs and AML tools they actually use, to how they’re adapting to MiCA without being forced to. You’ll see what works, what fails, and what no one talks about but everyone’s dealing with behind closed doors.