ICO – Game by the rules

In the first quarter of 2018, the most popular topic in the world of cryptocurrency was the regulation of ICO.

This happened in Switzerland, where in February FINMA issued its ICO guidelines. This caused a huge resonance both within the country and in the wide association of blockades.

Considering the fact that we are members of the CVA (Crypto Valley Association), we refer to one of our priority activities the introduction of members and the growing blockbuster industry in Switzerland in discussions on regulation and policy issues. And so we can say with confidence that we know the ICO field.

In January, CVA released our Code of Conduct for the ICO. CVA collaborated with FINMA in organizing and holding a series of roundtables in Zug, Geneva and Lugano in order to clarify and consolidate the guidelines for the community. Also, an important goal of such events was to collect feedback.

In addition to this, it is worth noting that the CVA also participates in policy discussions in other ways. The CVA community is a figurant in the Fintech round tables in the Swiss government.

To all other things it is the adherent of the Task Force on Blocking in the Ministry of Finance of Switzerland.

Participation in different forums makes it possible to add our perspectives and ideas, as we are working to negotiate with politicians and maintain regulation that protects consumers and fosters innovation.

THESE OBJECTIVES – IMPORTANT FOR OUR COMMUNITY

For example, we hope that ICO will eventually become a significant and innovative tool for attracting companies’ capital. However, despite this regulation will continue to take a leading role in this development.

In addition to this, it is not just an ICO. We set a goal in CVA, which is based on supporting a stable and prosperous block industry in Switzerland, which creates jobs and promotes economic growth.

However, it is clear that these problems will play a key role in the wider industry. In order to have an idea, you need to study the complex problems associated with how the blockchain technology can be harmonized with the GDPR in Europe.

On this basis, we will continue to participate in the consideration of regulatory and policy issues at all levels and commit ourselves to making every effort to study in the interests of the members of CVA, our growing industry, and users and consumers of this new technology that we are creating.

We encourage all members to maintain communication and consultation and, if possible, join the discussion.