During the last year, Switzerland as a country of company domiciling became preferred option for blockchain-based #crowdfunding. It attracted several largest #ICOs and channeled around 1/3 of total global #TGE flows. Unfortunately additionally to the best, it also attracted a lot of other startups with less credible background.
This was for us, a local crypto community in Switzerland, a cause for concern. It was clear that our image could suffer from it if things keep developing this way. So the recent development coming from FINMA is a great news for us.
Concerning the recent @Forbes article about FINMA announcement this Friday – a small correction from my side: As of the last Friday, FINMA already
1) started bankruptcy proceedings against 3 crypto currency companies
2) have taken another 11 under investigation.
Although it sound dramatic, I believe is a very positive development and also the one we have been expecting for a while now.
More: UPDATE ON LEGAL STATUS OF ICO IN SWITZERLAND | LinkedIn