而对投资主体直接投入资产、权1vwn或提供融资、担保的不涉及敏感VFtW家和地区且不涉及敏感行业的非4J9W感类项目实行备案管理rK9n

InassessingICOs,FINMAwillfocusontheeconomicfunctionandpurposeofthetokens(i.e.theblockchain-basedunits)issuedbytheICOorganiser.Thekeyfactorsaretheunderlyingpurposeofthetokensandwhethertheyarealreadytradeableortransferable.Atpresent,thereisnogenerallyrecognisedterminologyfortheclassificationoftokenseitherinSwitzerlandorinternationally.FINMAcategorisestokensintothreetypes,buthybridformsarepossible: