Switzerland‘s blockchain-related businesses are one step closer to legitimacy. Local cryptocurrency startups can now apply for a new license that would allow them to handle deposits of up to $100 million, a right normally reserved for banks.

The Swiss Financial Market Supervisory Authority (FINMA) has released strict guidelines for cryptocurrency businesses to follow if they hope to receive the coveted “FinTech” license required to manage large amounts of money on behalf of investors and customers.

From 1 January next year, companies other than banks can formally request authority to accept public funds of up to $100 million as part of their business operations.

In order to do so, companies must adhere to clear rules that dictate how they can handle customer money. For example, they may not re-invest any of it, nor can they pay interest on any assets received, at any time.

Cryptocurrency startups must provide complete info

Fledgling cryptocurrency businesses will need to submit a veritable mountain of documentation to FINMA in support of their applications.

They must satisfactorily describe the proposed business activity, geographical scope, and target clientele. FINMA also requires full accountability of all board members, including addresses, educational records, CVs, any related criminal records, and even references from previous jobs.

Companies will also need to provide lists of all business participants with a direct or indirect holding of 5 percent or more of the company. Any foreign nationals will need the equivalent documentation from their home countries.

The new license was made possible due to a recent amendment made to the Banking Act , made specifically to promote innovation within the cryptocurrency and blockchain sector.

This is seen as a necessary step forward for the cryptocurrency startups operating out of Switzerland‘s Crypto Valley , a prominent tax haven for new blockchain businesses.

Switzerland really is intent on pushing boundaries within the cryptocurrency industry. Just recently, local financial regulators made history by being the first to approve trade of a Bitcoin-based Exchange Traded Fund , something cryptocurrency fatcats in the US are yet to achieve .

Google Play app caught phishing for cryptocurrency exchange login details

Despite Google’s hardline stance against malicious cryptocurrency apps , some still find ways of sneaking through its net.

Security and malware researcher, Lukas Stefanko, published a video yesterday exposing how a malicious app, distributed via Google’s Play Store, steals the sensitive data from unsuspecting users.

Disguised as a currency conversion tool, the app (called Easy Rates Converter) is actually designed to snatch your personal credentials for a number of legitimate apps. Among other apps, the attackers were targeting CommBank, Google Play, as well as the official app of Binance, one of the world’s biggest cryptocurrency exchange desks. According to Stefanko, the app had over 500 downloads.

When the user downloads the app, it installs and operates as you would expect. However, in the background it also downloads and installs phishing malware dressed up as an Adobe Flash update. Sounds familiar .

The malware then waits for its moment to strike.

When you open legitimate apps like, Binance, the malware creates a “fake activity” which overlays the legitimate app. The “fake activity” prompts the user to input their user details, which are then saved and sent to the phishers.

Stefanko demonstrates the malware with conventional banking app CommBank, but states it also phishes on the Binance app.

Theoretically, this would be enough to gain illegitimate access to not just your cryptocurrency exchange accounts, but your regular banking apps too.

It appears that the rogue app has since been removed from Google Play. Hard Fork reached out to Google for comment. We will update this piece as we learn more.

Malware like this could be pretty difficult to spot, as the app does indeed install a legitimate program that operates as you might expect.

To avoid falling foul of these apps, Stefanko told Hard Fork that users should “ check [the] rating and reliability of developer [and stick to] verified apps (many installs) not new comers.”

This website turns Bitcoin blockchain activity into ASMR

Holding cryptocurrency can be exhilarating, yet absolutely depressing. Luckily, a website automatically transmogrifies Bitcoin activity into soft, soothing sounds to help you relax through its ups-and-downs.

Yes, you could even call it “ Bitcoin ASMR .”

BitListen is a “real-time Bitcoin transaction visualizer.” Individual Bitcoin transactions appear on screen as bubbles, and the amounts dictate their size. Large bubbles trigger big sounds, while smaller ones softly drift in and out of existence.

BitListen supports three instruments: Celesta, a metallic instrument that resembles the under-appreciated triangle ; Planet, a celestial-inspired futuristic synth; and Wikki, which can only be described as a dreamy steel drum.

My personal favorite is Celesta. With this setting enabled, the steady stream of Bitcoin transforms into something more than a simple soundscape.

BitListen was originally launched under the name “Listen to Bitcoin” back in 2013. After suffering an unfortunate security breach that led to it being hijacked by malware, its creator Maximillian Laumeister reopened the site under a different moniker.

Back then, Bitcoin had a relatively tiny market cap of $1 billion . Today, that valuation is beyond $154 billion , and the frequency of Bitcoin transactions has risen significantly along with it – which means BitListen sounds almost entirely different to how it did in 2013.

Indeed, odds are BitListen could bring high-frequency cryptocurrency investors some meditative relief in between trades, especially now there are enough transactions to power it sufficiently.

If you’re feeling stressed by the Bitcoin bull, this site might do the trick. Close your eyes, sit back, and say the mantra with me: Long Bitcoin, short the bankers… Long Bitcoin, short the bankers…

And if ASMR doesn’t do it for you, you could always give Bitcast a go .