Code of Conduct for ICO

Switzerland’s Crypto Valley Association Has Developed An “ICO Code of Conduct”

Switzerland’s Crypto Valley Association (CVA) has developed an “ICO Code of Conduct”, laying the foundation for potential self-governance models for the initial coin offering industry. President of CVA, Oliver Bussmann, has recently spoke in favor of governments developing clear and comprehensive regulatory frameworks for ICOs, stating that “the explosion of innovation surrounding blockchain and cryptocurrency technologies… has caught the attention of regulators worldwide, who wish to protect participants by clarifying the exact function and legal and tax status of the tokens…. The Crypto Valley Association fully supports innovation in the blockchain space. We believe that token sales represent an exciting, sound and innovative approach to raising investment capital. Therefore, we believe Switzerland should support this trend by developing clear, comprehensible, yet flexible regulation that clarifies the legal status of ICOs and the tokens generated.”

Whilst the CVA’s statement largely described the ICO industry in a positive light, the association also touched on several concerns raised by financial regulators. “The rapid development of token launches has raised concerns around stability and security, and… investors are often unaware of the true nature of their investment, and the documentation published to accompany token launches often minimizes or ignores the associated risk.”

Source:  https://news.bitcoin.com/ico-regulatory-round-up-uk-malaysia-and-switzerlands-crypto-valley-point-to-risks/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

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