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FINMAhasseveraltimesdrawnattentiontotherisksthatICOscanposeforinvestors.TokensacquiredinthecontextofanICOarelikelytobesubjecttohighpricevolatility.SincemanyICOprojectsareatanearlystageofdevelopment,theyaresubjecttonumerousuncertainties.Furthermore,itisuncertainundercurrentcivillawwhethercontractsexecutedviablockchaintechnologyarelegallybinding.