Several ICOs under Swiss financial authority’s investigation

Europe Switzerland

The Swiss Financial Market Supervisory Authority (FINMA) is examining a number of unspecified initial coin offerings (ICOs) to establish if they meet all legal requirements and do not violate anti-money laundering, collective investment schemes and securities regulations.

Interestingly, according to FINMA itself, Swiss law doesn’t specifically cover ICOs. That, however, does not exclude them from legal obligations.

“Due to the underlying purpose and specific characteristics of ICOs, various links to the current regulatory law may exist depending on the structure of the services provided,” the agency statement reads.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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