ICO Regulation in Switzerland in a Nutshell
FINMA, ICO, TGE, Token Classification
Dr. Andreas Glarner, Partner at the MME Crypto Team, provides a high level overview on how Switzerland’s regulator FINMA assesses ICOs / TGEs based on the guidelines recently published.
Learn about the different token models (payment/currency, utility, asset) and their regulatory treatment during the different stages of your project. Further, understand which ones qualify as securities and where KYC / AML regulations apply.
Your team
Dr. Andreas Glarner
Legal Partner
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Dr. Luka Müller
Legal Partner
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Thomas Linder
Tax Partner
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From the magazine
FTA published crypto prices 2020
The Federal Tax Administration has updated the 2020 price lists, including 20 different crypto assets.
New DLT Exchange License
As recently reported, the Swiss parliament has passed the new DLT Act (Federal Act on the Adaptation of Federal Law to Developments in Distributed Ledger Technology) in its autumn session. Yesterday the corresponding blanket ordinance was published and submitted for consultation. The entry into force of the amendments to the laws and regulations is expected to take place on 1 August 2021. For many market participants, one of the most important innovation which the DLT Act entails is the introduction of the DLT trading facility, a new form of licence for exchanges for security tokens and other digital assets.
Decentralized Autonomous Association (DAA)
Many previous Decentralized Autonomous Organizations (DAOs) have been criticized for their uncertain legal status, liability and ability to manage real-world projects. With the aim to overcome these legal uncertainties, MME - together with Validity Labs and various other friends within the Swiss FinTech industry - have elaborated a legal und technical framework enabling blockchain-governed Decentralized Autonomous Associations (DAAs).
SIX joins digital Ecosystem
Leading players in the Swiss ecosystem for digital assets are joining forces: the collaboration between Swisscom, daura, Sygnum Bank and Custodigit will now include SIX.
FINMA publishes Stable Coin Guidelines
The Swiss Financial Market Supervisory Authority FINMA today publishes a supplement to its ICO guidelines outlining how it treats so-called ‘stable coins’ under Swiss supervisory law.
FTA Crypto Working Paper
The Federal Tax Administration (FTA) sets out its developed practice with regard to crypto currencies and ICOs in a working paper based on the existing tax laws.
Publication VAT Practice for Tokens
The FTA has published its practice adjustments for VAT on supplies in connection with blockchain and distributed
Digitize Your Shares!
MME and Swisscom have jointly developed the blockchain-based “daura” Platform that enables Swiss SMEs to now keep their share register simply and digitally, and to conduct capital procurement transactions at the push of a button.
Framework for Crypto Tokens
The current "Block 2" version of the "Conceptual Framework for Legal and Risk Assessment of Crypto Tokens" includes several amendments to the initial genesis version from September 2017. The Framework can be considered in all jurisdictions, regardless of national legal and regulatory frameworks.
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