Swiss regulator Financial Market Supervisory Authority (FINMA) announced regulatory guidelines for Initial Coin Offerings (ICOs) according to three defined categories

Briefing

Swiss regulator Financial Market Supervisory Authority (FINMA) announced regulatory guidelines for Initial Coin Offerings (ICOs) according to three defined categories

February 19, 2018

Briefing
  • ICO Regulations – Swiss regulator Financial Market Supervisory Authority (FINMA) published guidelines for regulating Initial Coin Offerings (ICOs) on February 16, 2018
  • Three Categories – Classifies ICOs into three categories: payment tokens, utility tokens, and asset tokens
  • Payment Tokens – Serve as means of payment and are transferable, regulated according to anti-money laundering rules, but will not be treated as securities
  • Utility Tokens – Provides access to an application or service, and will also not be classified as securities
  • Asset Tokens – Will be treated like equities or bonds if they pay dividends or interest, or give rights to income streams, subject to strict securities law requirements

Accelerator
Web3 Ecosystems, Tokens and Consensus Mechanisms

Market Disruption
Crowd-Based Financing, Innovation, Competitiveness and Trade

Sector
Financial Services

Organization
Swiss Financial Market Supervisory Authority (FINMA)

Source

Original Publication Date
February 16, 2018

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