What FINMA Crypto Asset Guidance 2018-2024 - ICO/Token Classification: Payment, Utility and Asset Tokens, No-Action Letters, DLT Act Integration, Anti-Money Laundering Obligations for VASPs, FINMA Sandbox and Risk-Based Supervision Framework requires
This guidance sets out how FINMA applies financial market legislation to initial coin offerings (ICOs) based on the economic function and transferability of tokens. It requires compliance with anti-money laundering regulations for payment tokens and treats asset tokens as securities under Swiss law, with utility tokens subject to securities treatment if they function as investments. The assessment is case-by-case as outlined in the guidelines published on 16 February 2018.
Pillar: Crypto & Sovereign Finance · Authority: Swiss Financial Market Supervisory Authority (FINMA) · Version: 1.0.1 · Last updated:
Primary source: https://www.finma.ch/en/news/2018/02/20180216-mm-ico-wegleitung/
SHA-256 integrity: 5a40f75227fe529d51a20fdc1becdef5a79c2b9d35186f517d12754fec8fb7b1
Primary Citations — 5 traced to source
- FINMA ICO Guidelines, https://www.finma.ch/en/news/2018/02/20180216-mm-ico-wegleitung/, page 8 (diagram and principles), 2018
- FINMA ICO Guidelines, https://www.finma.ch/en/news/2018/02/20180216-mm-ico-wegleitung/, Payment ICOs section, 2018
+ 3 more citations (full bibliography, deterministic workflow, actionable schema and crosswalks) included in the vault unlock — $0.01 via Skyfire / L402 / Direct Base USDC.
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