The Swiss-based Crypto Valley Association announced yesterday the issuance of a Code of Conduct for Initial Coin Offerings. This should provide guidelines for the implementation of and participation in ICOs and bring the fund-raising method so even greater stability in the canton of Zug and throughout Switzerland.
The Crypto Valley Association (CVA) is a Swiss society committed to promoting the development of blockchain and cryptocurrencies as well as their adaptation in Switzerland. Based in the Canton of Zug, also known as Crypto Valley, the CVA, which is also supported by the government, is pursuing the goal of establishing a globally leading blockchain ecosystem in Switzerland.
In the course of these efforts, the announcement yesterday was to publish a Code of Conduct, which is to settle all relevant questions on the subject of Initial Coin Offering. In addition to all legal aspects, this includes moral classification and questions of security. Among other things, companies preparing an ICO are encouraged to be transparent about the entire process and to explain their intentions in an understandable way. It should be clear how the money raised by the token sale will be used and how the offered token will work within the ecosystem.
“Given the explosion in innovation around cryptocurrency and blockchain technology, it is not surprising that more and more companies and organizations are considering the ICO instrument as a source of revenue. The Crypto Valley Association wants to support this innovation in the blockchain field “,
explains CVA President Oliver Bussmann.