At Blockchain Leadership Summit on March 9, 2018 “PwC” made a workshop “The compliance taxes regarding Blockchain and ICO”. The team of PwC has talked about pros and cons of doing ICO funding, the main stages of developing an ICO, types of Tokens defined by FINMA (Switzerland) and tax consideration in Switzerland related to token economy. We present you a summary of the workshop to share with you the information about launching your ICO project in Switzerland. Read below
✅ Effective – ICO is quicker than an IPO
✅ With the ICO you do not dilute the current equity stake in your company
✅ You can build an ecosystem using your token
✅ ICO is a good marketing tool
⛔ There is certain uncertainty in most jurisdictions around the world in how tokens are effectively qualified (in Switzerland, there is a guideline to conduct ICO, which gives description of different categories of tokens).
⛔ Types of tokens are not defined.
⛔ Your ICO can be hacked.
⛔ Tax treatment is unclear.
🔘 Collecting investment schemes act (if you are actively raising funds)
🔘 AML act (anti-money laundering) (if you are issued payment token/ actively involved in payment transfers)
🔘 Deposits (banked license required)
To see full PwC workshop – follow the link: ICO regulation, taxation, and legal setup: PWC workshop
If you're still not sure whether to make your project in blockchain and start your ICO, or you do not know in which country these processes will be better to start - Register on Blockchain Leadership Summit, which will take place on 23-24 November 2018.
Speakers, experts, startups developers from all over the world will tell you everything about ICO regulation in different countries, will share with you the tips for successfully promoting a project, and will discuss future development of digital technologies.