Unclear Regulatory Framework for Security Tokens in Switzerlandhttps://medium.com/swissrealcoin/unclear-regulatory-framework-for-security-tokens-in-switzerland-17f035ea8c8fWe are extending the reservation phase and moving the start of the ICO for SwissRealCoin 2–3 months back. In the meantime we’re activating Plan B after the Swiss regulator FINMA missed the opportunity to provide clear guidance on the proper structuring of innovative security tokens.
SwissRealCoin (SRC) has applied for a letter of no action from FINMA in February 2018. The aim was to launch the SRC ICO in May 2018 in compliance with the newly issued FINMA ICO guidelines. Despite Switzerland’s pole position as ‘Crypto Nation’, the regulatory framework for security token projects remains unclear. After missing clear guidance from FINMA on how to structure innovative tokens in a fully compliant way, we have decided with our lawyers to activate Plan B, which will allow to launch the project in full compliance with the local regulatory framework. Preparing this new set-up, however, will delay the ICO.
