FINMA, the Swiss financial market supervisory authority, has published recommendations for regulating initial coin offerings, writes CoinTelegraph
Mark Branson, CEO of the structure, believes that the recommendations will help the blockchain industry take its rightful place in the financial market in Switzerland. In addition, the expert notes that blockchain enterprises should pay attention to the regulatory framework, which is time-tested.
As FINMA representatives indicated in a press release, the number of ICOs in Switzerland is steadily growing, but there are no regulatory standards that will bring clarity to all processes. In this regard, it was decided to issue certain standards for the proper operation of ICOs.
To assess the future initial placement of coins, FINMA divides all tokens into three groups: utility tokens (without them, for example, you cannot use certain services), payment tokens and asset tokens.
Switzerland continued the experience of Singapore and Australia, which, instead of banning ICOs, also published guidelines for regulation in accordance with current legislation.
According to cointelegraph
You May Also Like
SEC and the crypto market. The confrontation begins
The Confrontation Begins: The SEC Commissioner Accuses His Agency of Misapplication of the Law Regarding the Ban on Bitcoin ETF Winklevoss Bitcoin Trust. Nasdaq organizes secret meeting of lobbyists.
The Sandbox hackathon Maff Metaverse will take place May 20-27
On May 20–27, an online hackathon will be held dedicated to the development of art objects in the promising metaverse The Sandbox, which is included in the TOP 100 most influential companies in the world.
