Switzerland Settles as the World’s Leading ICO Hub

The Swiss are smart. They have always been with money. In last 20 years, Switzerland has progressively lost its appeal as the former secret banking centre of the world. This has dramatically changed the landscape among Swiss professionals – mainly lawyers and fiduciaries – which have progressively lost clients and businesses and had to look for new areas of opportunities. And now they have been the fastest and smartest in jumping at this new business opportunity. And this time the potential is really immense for the Confederation.

ICO`s, ITO´s or TGE´s, call it whatever you want, are the future of fundraising. And the Swiss financial authority (FINMA) on 16th of February 2018, was the first regulator to officially issue fairly detailed ICO guidelines to help clarify if and how the current Swiss laws will apply to ICO´s. As a lawyer, I must say that I am positively impressed. Due to the recent crescendo of hysteria, critics and plainly alarming statements on the part of Central Bankers, regulators and financial prominent people vs. ICO´s, Bitcoin & Co, I was fearing that a regulatory nightmare scenario would have rapidly ensued for the sector.

Luckily, the Swiss move sets an important precedent for regulators worldwide. Either follow the Swiss smart lead and improve their regulatory framework – thereby making compliance for ICO´s less burdensome and therefore a more attractive environment for ICO issuers, or go the other way and make it more burdensome than the Swiss and consequently shot yourself in the foot just like they did in NY with the infamous BitLicense. Then, say forever goodbye to the most promising business sector of the future.

Reference: https://www.ccn.com/switzerland-settles-as-the-worlds-leading-ico-hub/

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