June 22, 2018 EVA ICO Postponed Pending FINMA’s Certification
In February 2018, the Swiss Financial Market Supervisory Authority (FINMA) amended its guidelines for ICOs.
Compliance is one of our top priorities, and our team, partners, and advisors have dedicated extensive efforts to comply with these guidelines.
To date, with the help of our partner KPMG and our advisors, we have been able to address almost every FINMA requirement.
We are now finalizing some matters with respect to the Private/Pre-ICO. In particular:
following the new Finma rules, EVA is a Hybrid token (utility and payment). The new FINMA guidelines require that for a Hybrid token sale to be compliant, an OAD provider should be engaged to set up the correct KYC and AML procedures required by FINMA, and we are working in this direction;
while we have already received the ruling confirmation from the Swiss Tax Authorities, we are awaiting approval from FINMA to apply for all the required authorizations;
once this is done, we will define the terms of agreement with the local partner bank.
In the next four weeks, we are going to complete these final steps, and by July 20, 2018, we will be able to announce the official new ICO opening date.
We are aware that in the Blockchain community postponing an ICO is not positive, but regulations are something you cannot play around with.
However, in the end, it is safe to say that the Eventboost EVA ICO will be one of the (if not the) most compliant ICO you’ll be able to contribute to.