Swiss ICO guidelines: Switzerland’s financial regulators have issued new guidelines which would treat some locally sold ICO tokens as securities in support of the cryptocurrency market.
In its press release today, the Financial Market Supervisory Authority (FINMA) acknowledged the sharp rise in the number of ICOs launching in Switzerland. Currently, four of the 10 biggest proposed initial coin offerings are based there, according to PwC. This has prompted the financial authority to set out new rules and clarify how they are to be regulated given “the dynamic market and the high level of demand.”
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