Blockchain Regulatory Storm: Switzerland Embraces Crypto Economy Against the Tide, Global Attention Focuses on Token Classification】
Blockchain technology has entered the public eye with the wind at its back, and people in the crypto world have long been desensitized to "Token"—after all, these days even the lady at the pancake stall downstairs can chat about "air coins".
While global regulators are busy tightening the screws on cryptocurrencies (for fear of being used for money laundering, scams, and harvesting retail investors), Switzerland is going in the opposite direction. Last week, the country's economic minister declared: We want to be a "crypto nation"! The Swiss Financial Market Supervisory Authority (FINMA) directly released ICO operational guidelines, and CEO Mark Bransom stated plainly: "We give the green light for legitimate innovation, but investor protection and financial security are the bottom line."
The most eye-catching part of this guide is the classification of tokens into "three, six, and nine grades":
1️⃣ Payment Tokens (true cryptocurrencies like Bitcoin)
2️⃣ Application Tokens (for example, a pass needed to access a certain app)
3️⃣ Asset Tokens (digital certificates representing stocks, bonds, or even real estate income rights)
Even more surprisingly, FINMA acknowledges that tokens may have "cross-border hybrid" attributes—such as a token that can be used as money (payment attribute) and can also pay dividends (asset attribute). This classification directly determines the rules that project parties must comply with: securities law? Anti-money laundering regulations? Or do they need to conduct customer background checks?
However, that said, the blockchain space is indeed murky. Too close to money, it attracts not only tech geeks but also con artists. Air coins and Ponzi coins are everywhere, nearly burying the true value of Tokens. Ultimately, technology is innocent; the fault lies in human nature—just like a kitchen knife can chop vegetables or harm people, it all depends on who is using it.
