Crypto Valley Association (CVA), the Swiss-based not-for-profit association focused on blockchain and cryptographic related technologies and businesses, has launched a Code of Conduct for Initial Coin Offerings (ICOs).

The framework is expected to guide ICOs on proper conduct, taking into account all legal, moral, and security obligations. The ICO Code of Conduct is expected to bring clarity and confidence to the still new, rapidly-growing asset class.

“The Crypto Valley Association fully supports innovation in the blockchain space. We believe that token sales represent an exciting, sound and innovative approach to raising investment capital. Therefore, we believe Switzerland should support this trend by developing clear, comprehensible, yet flexible regulation that clarifies the legal status of ICOs and the tokens generated,” Oliver Bussmann, President of Crypto Valley Association said.

According to the official release, the Code calls on all organizations running an ICO to be fully transparent about all details pertaining to the process. The details should be disclosed in a manner that can be easily understood even by those that are not technologically sophisticated. This includes being clear about how funds raised are intended to be used and how the token will function, as well as providing a clear risk assessment for the underlying technology.

“The rapid development of token launches has raised concerns around stability and security, and as a leader in this field, it’s our responsibility to support the industry. The widespread adoption of this framework, combined with careful supportive regulation would bring stability to an exciting but uncertain trend in blockchain,” added Bussmann.

In addition, the document also contains a general Code of Conduct for CVA members as well as the CVA’s vision and values. The CVA hopes the document will help frame the way its members engage with the industry, thereby protecting their own reputation and that of the CVA.

Headquartered in the Swiss canton of Zug, Crypto Valley Association is the independent, government-supported association established to take full advantage of Switzerland’s strengths to build the world’s leading blockchain and cryptographic ecosystem, working with government to foster the development of pioneering digital technologies in Switzerland and internationally. From an initial tally of 16 at launch, the CVA has grown to over 550 corporate and individual members.

The CVA is currently welcoming comments from members and the general public on the content of the Code of Conduct.