Tezos Hired New CEO

Mr. Haussmann, new CEO of Tezos, is a Swiss chartered accountant who has been working with the Haussmann Group since 1999
01 February 2018   231

Lars Hausmann will replace Guido Schmitz-Krummacher as CEO after he left the Tezos fund in December amid scandals within the project management. This is reported by Finance Magnates.

The Board will now focus on setting up operational systems and organizational arrangements for the Foundation, including updating its administrative and accounting processes. These steps will allow the Board to further the Foundation’s central mission, the development and promotion of the overall Tezos ecosystem.
 

Tezos Announcement

Haussmann is one of the top managers of the accounting company Haussmann Treuhand AG. Whether his candidacy was agreed with the founders of the Tezos project by Arthur and Kathleen Breitman is not yet known. 

Сould you please attach your email address for us to send you the most interesting ICO's rating and reviews. No spam.

Swiss Regulators Published ICO Guidelines

The Swiss Financial Market Supervisory Authority FINMA published today initial coin offering (ICO) guidelines  
16 February 2018   156

The guidelines set out how it intends to apply financial market legislation in handling inquiries from ICO organizers. According to it, regulators will oversee and regulate ICOs anti-money laundering laws.

FINMA clarifies how token issuers should proceed in the country. The regulator also stated that there is a sharp increase in the number of Switzerland-based ICOs. This led to questions about applicable regulations.

The press release noted that financial market law and regulation aren’t applicable to all ICOs. Each case must be decided on its individual merits.

The regulations will be based on economic function and purpose of the tokens issued by the ICO organizer. Due to the fact that there is no generally recognized terminology for the classification of tokens in the world,  FINMA categorizes tokens into three types:

  • Payment tokens are synonymous with cryptocurrencies and have no further functions or links to other development projects.

  • Utility tokens are tokens which are intended to provide digital access to an application or service.

  • Asset tokens represent assets such as participation in real physical underlyings, companies, or earnings streams.  

FINMA will handle ICO inquiries according to three different categories, based on the type of tokens they’ll be issuing.

  • Payment ICOs (payment tokens), that issue tokens that are transferable and function as means of payment.

  • Utility ICOs (utility tokens), that will not qualify as securities, as long as their purpose is to confer digital access rights to an application or service. If a utility token functions as an investment in economic terms, it will be treated as a security.

  • Asset ICOs (asset tokens), that issue tokens that will be seen as securities. This means they’ll be treated like equities or bonds. These will be subject to strict requirements.

Our balanced approach to handling ICO projects and inquiries allows legitimate innovators to navigate the regulatory landscape and so launch their projects in a way consistent with our laws protecting investors and the integrity of the financial system.

Mark Branson

FINMA CEO