Switzerland Lays Out Guidelines in Support of ICOs

Switzerland’s financial watchdog, the Swiss Financial Market Supervisory Authority (FINMA), recently published initial coin offering (ICO) guidelines that reveal the regulator will oversee the fundraisers and regulate them either under anti-money laundering laws, and as securities.

The guidelines show FINMA is looking to clarify how token issuers should proceed in the country, as the regulator notes a sharp increase in the number of Switzerland-based ICOs also led to an increase in the number of inquiries about applicable regulations. Per the Financial Times, FINMA already received more than 100 requests for guidance.

The organization’s press release starts by clarifying that financial market law and regulation aren’t applicable to all ICOs, as some may not even be subject to regulatory requirements. As such, circumstances need to be analyzed on a case-by-case basis.