FINMA received a large number of FinTech queries during the reporting year. The guidelines for initial coin offerings (ICOs) published on 16 February 2018 were very well received on a national and international level.
Blockchain was the dominant topic in 2017 and the subject of a FINMA roundtable discussion in May. Two events of regulatory significance were the introduction of a sandbox and the expost review of FINMA Circular 2016/7 “Video
and online identification”.
Since 2013, FINMA has been paying close attention to the challenges arising from new technological developments in finance (FinTech) regarding licensing requirements, supervision and regulation. FINMA revised one circular and issued another to enable video and online identification and the digital conclusion of asset management agreements.
FINMA is helping improve conditions promoting innovation in financial technology and digitalisation. It is taking steps to lower barriers to competition and promote technology-neutral regulation. It is also creating centralised access to information for start-ups.