According to BlockBeats, on July 26, the Swiss Financial Market Supervisory Authority (FINMA) issued guidance on Friday, highlighting the risks that stablecoin issuers operating in Switzerland pose to their partner banks. The regulator noted that these issuers collect deposits from the public and should be considered banks. However, they avoid the need for a banking license by entering agreements with registered lenders to repay customers in case of default.

FINMA's guidance emphasized that this arrangement exposes both stablecoin holders and the banks providing default guarantees to significant risks. If a stablecoin issuer engages in misconduct, the banks involved could suffer reputational damage and face legal risks due to their contractual relationships with the issuers.