Token Legal Assessment

Get a token qualification per the Swiss regulatory law and FINMA ICO Guidelines for your token sale or token listing.

Token qualification

Get a legal memorandum / legal opinion on the qualification of any crypto token under Swiss regulatory law and FINMA’s ICO Guidelines – whether NFT, security token, asset token, utility token, stable coin, cryptocurrency, governance token or any other type of token, our blockchain legal experts provide you with a written memo. 

 

For token issuers, crypto brokers, and exchanges

Token sale (for issuers)

Are you about to sell your token in private sale via SAFT, in a public ICO, STO or IEO, or simply via airdrop? Qualifying your token is a crucial step to understanding your legal obligations, from AML/KYC duties to prospectus requirements.  

Token listing (for issuers)

To list your token, most crypto exchanges require a legal assessment from a reputable law firm confirming that the token does not qualify as a security or financial instrument. We focus our in-depth legal analysis to thoroughly address this key question. 

Token listing (for exchanges)

Security tokens are subject to trading restrictions; Swiss crypto brokers and exchanges have to first assess the nature of the tokens they intend to offer to their clientele. Have our experts analyze and classify any number of tokens to mitigate the compliance risk under Swiss securities law. 

Token assessment flat-fee

What it is
  • Kick-off meeting: We kick off the process with a 30-60 minute call to ensure we are fully aligned on the tokenomics and the scope of the token assessment.  
  • Legal memorandum: You get a detailed written and tailor-made legal assessment of the token in question in line with FINMA’s ICO Guidelines, FINMA practice as well as general Swiss financial market law with a particular focus on the security qualification. Our blockchain lawyers have in-depth experience with any type of tokens, including payment tokens (cryptocurrencies), utility tokens including LP tokens, asset tokens, security tokens, stable coins, non-fungible tokens (NFTs), various DeFi tokens, governance tokens, hybrid tokens as well as native tokens. Also, we take into account all details of the tokenomics, including pre-functional utility tokens, placeholder tokens, burning mechanisms, staking rewards, airdrops, etc. The legal memorandum can serve as a basis for a token launch (ICO, STO, IGO, initial exchange offering) or an exchange listing.  
  • Consultation: You can ask all your questions prior to and after the delivery of the legal memorandum. This ensures that we fully understand the project and have clarity on your regulatory requirements. If you are at the structuring stage of your token, see also our token workshop package.  
Who it is for
  • This token assessment can serve both token issuers in the context of a token sale or token listing as well as brokers or exchanges looking to offer or list a specific token.  

 

How long it takes
  • It typically takes 5-10 business days to draft the legal token assessment.  

 

Pricing
  • CHF 5’500 flat fee (excl. VAT).
Optional FINMA no-action letter

To get full certainty on the legal qualification, we can obtain a no-action letter from FINMA on the token qualification for an additional CHF 2’500. Please note that this typically takes 2-6 months. 

LEXR – the blockchain experts since day one

Our blockchain lawyers are true crypto experts – we have not only assisted a wide range of customers with the legal analysis of their DeFi projects and token launches, but we also have the technical expertise, e.g., as keyholders in the wrapped BTC on the Tezos blockchain (https://tzbtc.io/) and privately interact with tokens and DeFi protocols regularly.  Some of our clients:

  • Bitcoin Suisse 
  • Tezos 
  • Bitmain 
  • matrixport  
  • Aktionariat 
  • Unix  
  • Gro
  • Ecoo 
  • StakingRewards 
  • Splint Invest

About us

We’re a growing team of 20+ legal professionals – our Financial Markets Law experts include:

  • 1

    Florian advises clients in the fields of Blockchain, DLT, Digital Assets, and FinTech, predominantly focusing his practice on financial market regulation and corporate law matters. He also lectures on legal and compliance issues related to Digital Assets, DLT, and DeFi.

    Florian Prantl, Legal Counsel

  • 2

    Christian is an entrepreneur and lawyer with a focus on the intersection between technology & law. He regularly speaks, publishes and advises on blockchain-related topics and is specialized in financial market regulation.

    Christian Meisser, CEO & Legal Counsel

  • 3

    Irina works primarily in the area of corporate and financial markets regulation, where she focuses on internal processes, drafting legal documents, and assisting with various legal projects. Her focus is mainly on corporate law and tokenization support.

    Irina Komnenic, Junior Legal Counsel

  • 4

    With his expertise in financial market regulation, Max supports corporate clients in their fiat or crypto-related endeavours. Furthermore, he is familiar with the regulatory and AML-related duties of Swiss and European financial institutions and the every-day application of corporate law.

    Maximilian Krähenbühl, Legal Counsel

  • 5

    Silvan is supporting LEXR as a freelance tax counsel. He specialises in corporate taxation of fintech, asset management and crypto. He has helped to set up investment funds, management companies and banks and structured ICOs, stable coins as well as more traditional financial instruments.

    Silvan Amberg, Tax Counsel

  • 6

    Nihat’s professional practice is focused on corporate and commercial law and financial market regulation. He also worked for the Swiss Financial Market Supervisory Authority FINMA in Bern where he gained valuable experience.

    Nihat Cingöz, Legal Counsel

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