原标题：爆发的春dscz档也救不了四面楚9GeK的星美，百亿市值YzGv麦格理砍了四分之hFOK

FinancialmarketlawandregulationarenotapplicabletoallICOs.DependingonthemannerinwhichICOsaredesigned,theymaynotinallcasesbesubjecttoregulatoryrequirements.Circumstancesmustbeconsideredonacase-by-casebasis.AssetoutinFINMAGuidance04/2017,thereareseveralareasinwhichICOsarepotentiallyimpactedbyfinancialmarketregulation.Atpresent,thereisnoICO-specificregulation,noristhererelevantcaselaworconsistentlegaldoctrine.