Digital Assets · Lesson 5 of 5
ICO/STO Best Practices & Compliance
Structuring a compliant Swiss token offering
Pre-Launch Checklist
Before launching any token sale from Switzerland, complete the following:
- Token classification: Determine if your token is payment, utility, or asset — engage Swiss legal counsel
- FINMA self-declaration: For token offerings that may touch securities regulation, seek a FINMA no-action letter or proceed with SRO affiliation
- AML compliance: Any token sale accepting fiat or crypto must implement full KYC/AML for investors above CHF 25,000
- Whitepaper review: Have legal counsel review all claims for accuracy and regulatory compliance
- Securities prospectus: If issuing asset tokens to public investors, a securities prospectus may be required under FinSA
The Swiss Foundation Model
Most blockchain protocols establish a Swiss foundation (Stiftung) as the legal vehicle for token issuance. The foundation is non-profit, not owned by any shareholder, and managed by a board. Token proceeds go to the foundation to fund protocol development — this structure has successfully passed FINMA review for many major projects.
Post-Launch Compliance
- Maintain investor registers (for security tokens)
- Annual accounts for the foundation
- Ongoing AML monitoring for token holders
- FINMA reporting if you hold a license
- Anti-tax evasion compliance if tokens were used to circumvent tax obligations