Swiss financial regulator will control ICO
FINMA with new rules for the market of initial placements.
The Swiss Financial Regulator (FINMA) said it will regulate some of the so-called initial coin offerings (ICOs) in view of anti-money laundering laws.
Today FINMA announced that they recognize the innovative potential of blocking technology and offer a "balanced approach" to working with ICO projects that will help entrepreneurs navigate the industry, reports Telegraph.
Studying the industry of initial coin placement was conducted in Switzerland since September 2017 year. FINMA suspected that some ICOs in the Swiss Crypto Valley could have violated the law. At the same time, there was no legislative base for the ICO at that time in Switzerland.
Recently, the development of regulatory standards has accelerated in connection with the growing incidence of fraud in the crypto-currency market.
Author: Evgenij Novožilov, Analyst Freedman Club Crypto News
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