Belgian market maker KeyRock gains Swiss regulatory approval

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  • KeyRock has secured anti-money laundering compliance clearance from the Swiss Financial Services Standards Association (VQF).
  • The startup is expanding its OTC services via new on ramp/off ramp fiat currencies, including GBP and AUD.

Belgian crypto market maker Keyrock has secured a key regulatory approval from the Swiss Financial Services Standards Association (VQF). The approval follows a comprehensive review of the company’s structure and processes with regard to compliance with the Swiss Anti-Money Laundering Act (AMLA) regulation.

KeyRock expands OTC desk

Compliance with AMLA guidelines is a milestone that not only ensures the crypto market maker aligns with anti-money laundering regulations, but also offers a crucial base for the startup’s expansion efforts.

KeyRock CEO Kevin de Patoul said in a press release:

Securing the VQF membership reinforces Keyrock’s stance on upholding rigorous regulatory standards within the crypto space. As the landscape evolves, our focus remains steadfast on ensuring both compliance and trust in our services.”

VQF is a government-approved financial standards body that has previously granted regulatory clearance for crypto startup Bitcoin Suisse and custodian BitGo. The KeyRock approval allows the startup to expand its OTC services around the globe, the firm noted.

The expansion will involve new fiat on-ramp and off-ramp designed to support more than ten new currencies, including GBP and AUD. Currently, the service has been offered via USD and Euro.

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