Download or read book Digital Tokens: A Legal Perspective written by Mr. José M. Garrido and published by International Monetary Fund. This book was released on 2023-07-28 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tokens are units digitally represented in a distributed ledger or blockchain. The various uses of this technology have the potential to transform a wide array of economic activities, from traditional commercial transactions to sophisticated financial undertakings. This paper explores the similarities and differences of tokens with traditional legal instruments in commercial law and how tokens could offer superior solutions, provided that proper legal foundations are established for their operation, including aspects of the law of securities and consumer protection law.