Upbots GmbH has received a no-action letter from FINMA, the Swiss Financial Market Supversoriy Authority, recognizing that the UBX token is a payment token under the proposed structure outlined in the letter and is not a security token.
This means that UBXt is recognized by Finma as a way of payment and that its structure is also validated.
This is a very good point for the future of Upbots and for the total regulation we are aiming for.
Indeed, UpBots has the ambition to become a fully regulated platform in order to offer a totally transparent service that is governed by regulations.
Leave a Reply