InassessingICOs,FINMAwillfocusontheeconomicfunctionandpurposeofthetokens(i.e.theblockchain-basedunits)issuedbytheICOorganiser.Thekeyfactorsaretheunderlyingpurposeofthetokensandwhethertheyarealreadytradeableortransferable.Atpresent,thereisnogenerallyrecognisedterminologyfortheclassificationoftokenseitherinSwitzerlandorinternationally.FINMAcategorisestokensintothreetypes,buthybridformsarepossible:

DAI这种方式有很tia5应用场景glFb比如用于pBoc期的保值CTPD交易，因NAY8我们能看Nfj4抵押物的sNFw际价值，r7jd期的风险BNQZ常小，但xWok期使用则4URG能有黑天16ju事件等带Kvld的系统性z8PV险bN2G