KlimaDAO commissioned Advisorn GmbH to provide a legal opinion regarding the qualification of the KLIMA token under Swiss financial market laws.
In order to assess the possible qualification of the KLIMA token as a security, Advisorn prepared an assessment and description of KlimaDAO and the KLIMA token, and evaluated this description in the context of Swiss financial market laws.
Advisorn's assessment concludes that:
it is possible to affirm that the typical feature of securities "connection with capital markets" is missing and that the KLIMA tokens do not qualify as securities (article 3 (b) FinSA and article 2 (b) FMIA) under Swiss financial market laws.
The full legal assessment can be viewed and downloaded here.
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