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
North Korea will host a crypto conference
American radio Free Asia reported that North Korea is planning to hold a conference on blockchain technology and cryptocurrencies, which will feature speakers from around the world. The conference will take place from October 1 to 2 in Pyongyang. Meetings of conference participants with representatives of North Korean government organizations are also planned for October 3.
The cryptocurrency market is steadily turning green
Former IMF economist Mark Dow, who went short at the peak of last year's BTC run, closed his position yesterday - sending a signal that the market has finally bottomed out. "I've had enough. I'm tired of trying to bring its price down to zero. I don't want to do this anymore," he said in an interview with Bloomberg. While he didn't mention going long or expecting a bull run, he said he sees a fundamental change in people's perception of cryptocurrency.
