Following a surge of ICOs in Switzerland, the country’s financial watchdog – Financial Market Supervisory Authority (FINMA) – increased its investigative efforts into those offerings.

The news comes from the agency’s latest announcement, which also indicates, that some of the previously investigated ICOs may have already broken numerous laws, anti-money laundering and anti-terrorist regulations included.

“FINMA is currently looking into a number of different cases. Moreover, whenever FINMA is notified about ICO procedures that breach regulatory law or which seek to circumvent financial market law it initiates enforcement proceedings.”