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ICOsareadigitalblockchain-basedformofpublicfund-raisingforentrepreneurialpurposes.Givenalegalandregulatoryframeworkwithpartiallyunclearapplicability,FINMAistodaypublishingguidelines,whichcomplementitsearlierFINMAGuidance04/2017,settingouthowitintendstotreatenquiriesfromICOorganisers.Creatingtransparencyatthistimeisimportantgiventhedynamicmarketandthehighlevelofdemand.