The FCA (UK equiv. Of SEC) finalised guidelines for crypto assets and the Recent Sale of Tokens.com for $500,000 could be positive news for ‘Tokens’ Domains. Which Domain/Category do you think will be most valuable? Security Tokens : Regulated Security tokens provide rights and obligations akin to specified investments Whilst a security token could conceivably take the form of many different kinds of specified investment, the most likely will be tokens akin to shares, debt instruments, warrants, certificates representing certain securities or units in collective investment schemes. Example; Polymath uses a system, that brings securities to their blockchain platform. As previously discussed, Polymath will create tokens, that are backed by real assets. eMoney Tokens : Regulated These tokens were previously included within the scope of utility tokens in the draft guidance, unless they satisfied the definition of security token, but have now been moved to their own category to clear any confusion as to where the line of regulation lies. This will be any token (even where its other characteristics might place it in a different category) where the definition of eMoney under the eMoney Regulations 2011 is met. Tokens in this category: Fiat pegged Stablecoins such as Facebooks Libra. Utility Tokens : Unregulated Cryptoassets which provide holders with access to (or future access to) products and/or services, except where they also fulfil the definition of e-money. The Guidance provides a number of examples of the types of token that will fall within and outside this category. Tokens in this category; Basic Attention Token. Exchange Tokens : Unregulated Types of cryptoassets which are usually decentralised and used primarily as a means of exchange. These include assets frequently referred to as cryptocurrencies. Tokens in this category; Bitcoin and Ethereum.