Giracoin is the new cryptocurrency from Switzerland, which allows all users to have equal access to the mining process. It was the first virtual currency to meet strict government guidelines. The Swiss Financial Market Supervisory Authority FINMA appoints in this respect self-regulatory organizations, which monitor compliance with strict money laundering laws. Financial intermediaries have a duty to report to private law self-regulatory organizations to accomplish a constant control in accordance with the MLA.
SRO certification – What exactly does it mean?
What exactly can you expect from these so-called SROs? The Financial Supervisory Authority FINMA is responsible, among other things, for the task of enforcing the Money Laundering Act. This law provides, inter alia, the fight against money laundering under Article 305 of the Criminal Code. In addition, it also stipulates those who have to obey these rules. These include financial intermediaries, such as the Gira Financial Group AG. As a reliable and responsible intermediary, we are required to register with self-regulatory organizations to ensure a comprehensive and transparent review of our financial services.
To be recognized as an SRO by FINMA, you have to have strict regulations for the specific AMLA measures on due diligence for your members. In addition the people and auditors, who are responsible for monitoring the regulations, must ensure high requirements on their personal competence and independence. The SRO are also encouraged to constantly monitor these instances and check for their suitability. If changes take place in the organization, FINMA must be informed immediately. Should one of these points not be adhered to, FINMA may at any time withdraw the recognition as SRO. Furthermore, FINMA may always perform on the spot checks at the SROs.
Thus, the Gira Financial Group AG not only guarantees reliable information on their financial services as a member of the SRO “Poly Reg”, but the “Poly Reg” is further obliged to a duty of care and the supervision of FINMA. A double protection for our users.
The Giracoin Atomic Solution
In order to offer our users even more safety, we have introduced the “Giracoin Atomic Solution”. This security software regularly monitors the activity of our system. If over a period of seven days, no activity is detected, the software prepares the publication of the source code, so that the block chain and the whole system go open source.
The 3-layered protection for our users
Giracoin Miners can therefore assume that they are trading with a crypto currency, ensuring the highest standards of security and transparency. Nowhere else is there a virtual currency with a comparable basis of trust. Giracoins can be safely traded on our market Girabuy.com. From acquisition of tokens using the mining process, up to the payment and exchange of the currency, everything is openly documented and tamper-proof. In addition, the established encryption on the SHA-256 algorithm guarantees the highest possible security of our block chain.
Our users are therefore not only part of a new, independent and reliable cryptocurrency, they also benefit from the fact that the whole process is guaranteed against external attacks and protected against hacks by high security key.