Swiss regulator FINMA out with their ICO guidelines 16 Feb
- fin market law and regulation are not applicable to all ICOs
- FINMA will focus on the economic function and purpose of the tokens
- analysis indicates that money laundering and securities regulation are the most relevant to ICOs
- projects which fall under banking act or the collective investment schemes act are not typical
- FINMA will require compliance with AML regulations for payment ICOs, will not be treated as securities
- FINMA will treat tokens that function as investments in economic terms as securities
- regards asset tokens as securities which means that there are securities law requirements for trading in such tokens as well as civil law requirements
FINMA laying down the rules for crypto ICOs.
Meanwhile Bitcoin continues its retreat from $10,000 and now posting $9836
