Since early 2016, nearly $10 billion has been invested through ICO, with so many entrepreneurs seeking to get an involvement into this financial phenomenon. Telegram managed to raise $1.7 billion through ICO and it proves that businesses can get serious money with this method.
There are different ways how ICO is accepted around the world. It can be liberal, friendly and open, like Switzerland. Most countries are open, but also are strict and cautious like the US; while China is known for its outright hostility for anything related to cryptocurrency. With ICO, businesses are performed on blockchain network around the world electronically; so it’s easier for companies to choose locations with more appropriate regulations. While China has imposed a complete ban on ICO, you can get a varying degree of openness with the various European countries. Choosing Switzerland can bring plenty of advantages for investors:
1. Liberal Approach: In Switzerland, regulations are defined in a way to match individual cases. If a problem is encountered, it’s solved in a specific way. As an example, if there’s a possible risk of money laundering, relevant regulations will be implemented, so not everyone is covered with a similar legislation. Goals of regulation aren’t to stretch authority comprehensively, but to individually deal with each problem.
2. Direct Access to Authorities: By contacting an agency directly, investors can manage various tax, security and regulatory implications. Closer interactions with the authority will reduce the risk of investigations, if something wrong happens. Investors can always look for more efficient solutions for their unique situations.
3. A Federal System with Decentralized Principles: The federal system of Switzerland is consisted of the federal government, states and communities. Much of the power is still held by small communities. A group of individuals can start a referendum for a specific law. With excellent public acceptance to ICO and cryptocurrency, it is assured that implementations in Switzerland will remain liberal.
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