Last Thursday the Crypto Valley Association released a statement on token launches and also announced that it was developing a token launch Code of Conduct in conjunction with leading experts.
Considering the amount of attention that token launches, also known as token generating events (TGEs) or, more commonly, ICOs, have been getting, it was no surprise that the announcement garnered widespread coverage in the industry press. Notices ran in Coinspeaker, Bitcoin News and CoinTelegraph, among others.
The strong growth in TGE volumes, and the increased regulatory scrutiny, has however made this a topic in the mainstream media as well.
On the day of the release of the CVA statement, the Financial News ran an in-depth article featuring CVA President Oliver Bussmann. Among other things it quoted Bussmann as saying the “worst case scenario would be that regulation could shut down the whole ICO industry” and that it “is our mission to educate and provide a reliable framework for ICOs.” The article concluded:
“The code of conduct being drawn up by the Crypto Valley Association will allow companies looking to raise money using cryptocurrencies to gain “a trusted level of certification”. Companies that sign up to it will need to have credible business models and conduct proper background checks on their customers and counterparties.”
On September 7, Swissinfo ran an excellent in-depth piece on cryptocurrency projects, token launches and Swiss-based foundations. It featured quotes from both Bussmann and David Siegel, founder of CVA member 20/30, one of whose projects, Pillar, recently raised over USD 20 million in a TGE.