Regulation of Cryptocurrencies and ICOs in Switzerland: Declared Vision of a ‘Crypto Nation'

Switzerland has emerged as an aggressive, groundbreaking innovation leader in fintech, resulting in one of the first supportive regulatory guidelines "light" of any major financial center in Europe. Of the world's 10 largest ICOs in 2017, four used Switzerland as their base, while over 100 requests for guidance were received by the Swiss Financial...

Switzerland has emerged as an aggressive, groundbreaking innovation leader in fintech, resulting in one of the first supportive regulatory guidelines "light" of any major financial center in Europe. Of the world's 10 largest ICOs in 2017, four used Switzerland as their base, while over 100 requests for guidance were received by the Swiss Financial Market Supervisory Authority ("FINMA"). Most recently, FINMA has issued two "Guidance" documents, one issued Sept. 29, 2017 and one published Feb. 14, 2018. Although neither are technically regulations, these documents are the principal policy pronouncements of the nation's primary regulator on the subject of cryptocurrencies and ICOs, and are intended to facilitate an orderly, legitimate and growing market. In this article, associate Joanna Diane Caytas discusses Switzerland's increasing interest in making itself an attractive location for ICOs while promoting the advancement of blockchain technology.

Source: www.srz.com