As the cryptocurrency boom continues to take hold of the world economy and stock markets, the popularity of an ICO or Initial Coin Offering has arisen. Switzerland is currently home to some of the worlds leading cryptocurrencies as well as ICOs, this is mainly thanks to the world's outlook on Switzerland as an international finance hub and tax haven for businesses.
On top of this, the canton of Zug has a locality touted as the Crypto Valley where some of the worlds most profitable ICOs operate and where new ones establish themselves.
The fact that the Swiss Financial Market Supervisory Authority (FINMA) has not yet developed a legislation or regulation for ICOs hasn't hindered the development and growth of the industry in Zug or the rest of Switzerland. There is, however, a new Code of Conduct which has been set up
in place of FINMA's coming soon regulation.
For more information on the booming ICO market and how to develop an ICO in Switzerland please feel free to contact our consultants.