Initial coin offerings: FINMA publishes first guideline

The guideline of the Swiss Financial Market Supervisory Authority FINMA sets out how it intends to apply financial market legislation in handling enquiries from ICO (Initial coin offering) organisers. The guideline defines the minimum information required to process enquiries from market participants and principles on how FINMA will respond to them. FINMA categorises tokens into three types according to their function and transferability, though hybrid forms are still possible. The focus of the guideline are security regulations for investors and anti-money laundering regulations.

 

Source: FINMA