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.

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From the magazine

Shares in the Digital Age

In times of digitization, there is a growing need to process more and more legal transactions in a digital framework - also in the area of raising and processing of funds or in general corporate transactions. Within the framework of so-called Security Token Offerings ("STO"), companies limited by shares can, for example, digitally issue shares or participation certificates in the form of tokens and hence facilitate the tradeability of their investments. It must be ensured that, in addition to the digital transfer of the tokens, the shareholders rights are synchronically transferred, fully compliant with local laws and regulations and legally valid.

Consultation Blockchain | DLT

The first step towards digital securities: During its meeting on 22 March 2019, the Federal Council initiated the consultation on the adaptation of federal law to developments in distributed ledger technology (DLT).

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.

How to declare bitcoins?

The declaration of bitcoins and other digital information units ("tokens") in the Swiss tax return is in practice still unclear. Our article (in German) provides some guidelines.

Crypto Valley Top 50

The market valuation of the 50 largest Blockchain companies in Switzerland and Liechtenstein’s Crypto Valley amounts to $20 billion in the fourth quarter of 2018. MME is very proud to have served more than 50% of these projects and most of the Top 5 with its legal, tax and compliance services.

Synchronisation von DLT und Recht

Blockchain-Systeme sind im Kontext der gesamten Digitalinfrastruktur sowie im Kontext der damit verknüpften Rechtsverhältnisse zu untersuchen. Die Synchronisierung von Token mit dem geltenden Rechtssystem ist ein dabei oft unterschätztes Risiko.

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.

ICO Code of Conduct

Crypto Valley Association (CVA), the Swiss-based not-for-profit association supporting the development of blockchain and cryptographic related technologies and businesses, announced the launch of a Code of Conduct for Initial Coin Offerings (ICO).

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