Switzerland: FINMA Presents Guidance on ICOs

On September 29, 2017, the Financial Market Supervisory Authority (FINMA) issued Guidance 04/201 for companies or individuals that intend to launch an initial coin offering (ICO), following a significant increase in public interest in ICOs, token offers and token-generating events either conducted in or offered from Switzerland.

FINMA stated that ICOs represent a "digital form of the initial public offerings that businesses carry out but which, by contrast, exclusively take place using blockchain technology".

FINMA supports the innovative potential of blockchain technology and implementation of blockchain solutions in the Swiss finance industry.

To continue reading please log in or request a demo to speak to a member of the team.