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Swiss Regulator FINMA Concludes That Mining Firm Envion’s ICO Was Unlawful

The Swiss Financial Market Supervisory Authority (FINMA) has finished enforcement proceedings against crypto mining firm Envion AG, the authority announced on March 27.

As a result of the investigation launched in July 2018, FINMA concluded that Envion’s initial coin offering (ICO), which closed in early January 2018, was unlawful.

Envion, a blockchain firm that claims to provide decentralized, clean energy for mobile mining units, faced a liquidation order from the cantonal court of Zug in November 2018 for conducting an allegedly unauthorized ICO. According to FINMA,
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