Management oversight of the operations of the financial market Switzerland (FINMA) as a result within 10 months of investigation announced that ICO mining company Envion AG in early January of last year, was organized in violation of the law. In FINMA believe that in order to attract 90 million Swiss francs (about $90.5 million) from at least 37 thousand people, the company had to obtain from the regulator a license.
However, as in November 2018 court of the Canton of Zug decided to stop the activities of the company, it is now in the process of liquidation and does not require further supervision by the FINMA.
On the background of this message, the price of the token EVN sank almost 30% to $0,056022 per unit, and market capitalization of the asset amounted to $6,239 million
Recall that recently the Swiss Federal Assembly approved a proposal requiring the government to start adapting the current legislation to regulate cryptocurrency.
According to an investment consortium Crypto Valley Venture Capital (VC CV), the number of blockchain-companies in Switzerland and Liechtenstein for the 2018 increased by 20%. In addition, earlier it became known that the online Bank Swissquote will open the transfer service currencies with external wallets to a Bank account conversely, Bank Julius Baer will provide customers access to various digital assets and custodian, transactional and investment decisions with them, and the investment Bank Vontobel has launched a service Digital Asset Vault for the storage of digital assets for institutional market players.