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Digital Tokens: A Legal Perspective

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  • Mr. José M. Garrido

Abstract

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.

Suggested Citation

  • Mr. José M. Garrido, 2023. "Digital Tokens: A Legal Perspective," IMF Working Papers 2023/151, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2023/151
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    Cited by:

    1. Cyril Chambefort & Magali Chaudey, 2024. "Decentralised Autonomous Organization (DAO)A Revolution of Trust in Digital Networks?," Working Papers 2416, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    2. Agustín Carstens & Nandan Nilekani, 2024. "Finternet: the financial system for the future," BIS Working Papers 1178, Bank for International Settlements.

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