The Swiss Financial Market Supervisory Authority FINMA today publishes a supplement to its ICO guidelines outlining how it treats so-called ‘stable coins’ under Swiss supervisory law. FINMA has seen a steady increase in the number of ‘stable coin’ projects since 2018. In this context, FINMA confirms that it has received a request from the Geneva-based Libra Association for an assessment of its Libra project under Swiss supervisory law. FINMA gives here an initial indication of how it would apply the relevant Swiss regulation. Among projects based on blockchain technology, FINMA has observed an increase in the number ... (full story)