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Swiss regulator publishes ICO guidelines

Jaclyn Jaeger | February 20, 2018

The Swiss Financial Market Supervisory Authority, FINMA, has published guidelines setting out how it intends to apply financial market legislation in handling enquiries from initial coin offering organisers. The guidelines also define the information FINMA requires to deal with such enquiries and the principles upon which it will base its responses, creating clarity for market participants.

FINMA noted that it has seen a sharp increase in the number of initial coin offerings (ICOs) planned or executed in Switzerland and a corresponding increase in the number of enquiries about the applicability of regulation. ICOs are a digital blockchain-based form of public fund-raising for entrepreneurial purposes. The new FINMA guidelines complement its earlier...

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