Token Classification
FINMA (Swiss Financial Market Supervisory Authority)
FINMA's principles-based approach to crypto regulation, including its 2018 ICO guidelines, three-category token classification, and DLT Act implementation.
FIT21 (Financial Innovation and Technology for the 21st Century Act)
The 2024 House-passed legislation that established the decentralization test for crypto classification, gave the CFTC jurisdiction over digital commodity spot markets, and became the legislative foundation for the CLARITY Act.
Howey Test
The four-part legal test derived from a 1946 US Supreme Court case that determines whether a transaction constitutes an 'investment contract' and therefore a security subject to SEC regulation.
Token Act (TVTG — Liechtenstein)
Liechtenstein's pioneering Blockchain Act, enacted January 2020, establishing the container model for token classification and 12 categories of TT Service Provider under FMA supervision with EEA passporting rights.
Token Classification Frameworks
Comparative analysis of how major jurisdictions classify crypto tokens into regulatory categories, determining which legal requirements apply to each token type.