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Initial Coin Offering: Non-action letter from FINMA for crypto payment service provider obtained
Reichlin Hess AG obtained a non-action letter from FINMA based on the updated practice according to the guidelines published on 16 February 2018 in connection with the planned Initial Coin Offering (ICO) of a crypto payment service provider. The software developed aims to increase the acceptance of merchants to accept crypto currencies as a means of payment. The tokens issued at the ICO should be used to pay commissions in connection with payments using crypto currencies.