Disruptive Technologies & FinTech
Blockchain, Initial Coin Offering (ICO), Crypto Currency
The digital revolution has caused a change in almost all areas of life and does not stop at the financial sector. The digitization is forcing traditional sectors and business models to make profound changes. Digital services and internet-based business models are essential components of today’s economy. Many areas of the financial industry are being reinvented by FinTech companies and blockchain models.
Blockchain is just one of many new promising and disruptive ideas and innovations that society and economy have to deal with more and more. The increasingly ubiquitous and popular blockchain technology is will be a game changer. For entrepreneurs and start-ups in particular, there are numerous possible applications of the blockchain technology. The blockchain technology in particular enables Token Generating Events (TGE) and Initial Coin Offerings (ICO) and thus new types of crowdfunding, that allow especially young companies in early stages to raise capital from many different investors for the development of their projects and products.
A TGE or ICO can not only have a major impact on the development of a business idea but also regulatory implications. TGEs and ICOs are currently not governed by specific regulation. However, the prevailing financial legislation is applicable and covers at least some aspects of TGEs and ICOs. The remaining legal uncertainty regarding the application of different financial market laws makes a TGE or ICO complex and requires prior legal assessment of a proposed TGE or ICO on a case-by-case basis. In order to found a FinTech company and to successfully implement a blockchain project, regulatory hurdles must be taken and compliance with the applicable rules must be ensured.
Our law firm supports you in the successful implementation of projects and offers legal advice with professional expertise and customized solutions. The scope of our services ranges from answering regulatory questions to legal opinions, incorporation of legal entities and comprehensive structuring of projects and depends on the specific need of our clients.
We provide comprehensive expertise for fintech, blockchain and ICO projects. Our fields of activities are in particular:
- development and implementation of blockchain projects (e.g. smart contracts, ini-tial coin offering (ICO) / token generating events (TGE), cryptocurrencies, etc.)
- development and implementation of crowdfunding projects
- dealing with the Swiss Financial Market Supervisory Authority FINMA, self-regulatory organisations and tax / VAT authorities
- development of partnership structures and agreements (e.g. partnership agree-ments, investor agreements, NDAs, licensing agreements, terms and conditions, shareholder agreements, etc.)
- founding of companies / start-ups and setting up of corporate structures
- assistance in entering into the Swiss market
Our law firm has a broad network of contacts to tax, IT and marketing experts as well as to cantonal and federal authorities to offer you the best possible services and advice.
Your Experts
Michael Kummer
Senior Partner
Ramon Bühler
Associate
Patrik Mauchle
Associate
Focus
New Swiss data protection Act
It is expected that the totally revised Swiss Data Protection Act (nDSG) will come into force on September 1, 2023. With the revision essential provisions for the processing of personal data will change and companies will have to comply with stricter regulations in data protection in the future.
Declaration of Bitcoin
More and more people are jumping on the Bitcoin trend and buying some of the currency. The past has shown that a lot of profit can be made with Bitcoins, but there can also be big losses. However, it is unclear to most Bitcoin owners how trading Bitcoin affects taxes for Swiss taxpayers.
Stable coins
The Swiss Financial Market Supervisory Authority (FINMA) has published a supplement to its ICO guidelines regarding stable coins. The supplement outlines how stable coins are treated under Swiss supervisory law and whether a stable coin launch would be subject to authorization.
