What are the plans?<\/span><\/strong><\/h2>\nThe Swiss government has announced plans for draft\u00a0 regulations that enforces a level of control on ICO as legislators and regulators independently deliberate on the issue<\/strong>. It is obvious that the Swiss desire to become the global ICO hub is encumbered by absence of strict regulations which may mar the country’s image if dishonest companies are able to pull off scams as they are wont to.<\/p>\nThe attraction of Switzerland as an ICO destination is due to the fact that it is a country with a number of wealthy citizens and technical experts. The Zug region has been unofficially designated Crypto Valley, reminiscent of the Californian Silicon Valley. There has even been objections in the region of the ICO term used to define the crowdsale, which they term derogatory because of token utility preferring ‘Token Generating Event’ as appropriate description of the digital fundraiser.<\/p>\n
The country’s readiness to adopt innovative financial concepts is another reason for its success as an ICO hub. Observations show that the country’s regulators are well versed in the mechanics of the Initial Coin Offering. The country’s fintech watchdog Finma warned that a number of ICO\u00b4s are warned that a number of ICO\u00b4s are being investigated raising hopes that the country’s accommodation of ICOs would come with the necessary checks.<\/p>\n
ICO and digital currency has been marred by scams, hacks and unsubstantiated claims of financial frauds,\u00a0 finance of terrorism and money laundering. With the crypto community enthusiastic about\u00a0 crypto nations as vehicle of adoption, legal experts are of the opinion that “investor protection should not be sacrificed on the altar of accommodation and opportunism”, says Karen Larson, a New York attorney.<\/p>\n","protected":false},"excerpt":{"rendered":"
At a time many countries have shown skepticism about Initial Coin Offerings, Switzerland has adopted an accommodating approach towards the idea that investors from all over the world see the country as a safe haven for ICO\u00b4s. Startups from China and South Korea where government policies are anti-ICO and cryptocurrencies are heading to the country … <\/p>\n
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