Financial regulators in Switzerland have disclosed the full extent of the fraud committed by Envion AG, a cryptocurrency “mining operation” that illegitimately collected over $90 million with an initial coin offering (ICO) last year. With this investigation, FINMA seeks to make it clear that ICOs can indeed fall within the scope of Switzerland‘s banking laws, reports Swissinfo. Regulators found Envion AG had unlawfully received deposits from at least 37,000 investors that took part in its ICO. Envion AG, ordered into liquidation in late 2018 and now entirely defunct, was a (supposed) German-Swiss tech company that had developed an “energy-efficient alternative…

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