On April 26, 2018, the Blockchain Taskforce has published a White paper on ICOs to strengthen Switzerland as a Blockchain Hub. M. Fabien Gillioz, partner at Ochsner & Associés, is a member of the ICO/Token working group of the Blockchain Taskforce, which consists of a group of around 50 personalities from politics, business and science. The White paper contain a series of recommendations on how laws and framework conditions should be adapted in order to strengthen the Blockchain technology and the ICOs in Switzerland. The White paper has been handed over to the Federal Councilor Johann Schneider-Ammann at the Blockchain Summit on 26 April 2018 in Zug.
In a nutshell, the Blockchain Taskforce recommendations are as follows :
- the possibility of digital transfer of ownership of tokens might already be possible today by applying a broad interpretation of the existing law for practical and economical reasons. Alternatively, different modification in the law is proposed;
- same findings in relation to the Anti-Money Laundering Act, it is sufficient to apply the existing law to the new technology;
- a so-called “sandbox” for blockchain start-up companies should be created;
- “best practice rules” should be introduced as new standards for the issuance of tokens and transactions on the blockchain; and
- a more detailed “Token Map” has been proposed, which can be used in connection of the issuance of tokens.
For more details, please refer to the Blockchain Taskforce White paper on ICOs below: