Tokens (also sometimes called “coins”) are digital assets based upon existing or new blockchains with a variety of purposes, spanning consumer-facing functional utility, monetary/payment roles, and investment or economic uses. Some tokens are initially sold (or otherwise issued) by a project or venture in return for future utility, as an investment, or representing a decision-making stake in a distributed community. This is known as a “token offering” (variously also known as ICOs, IDOs, ILOs, IEOs, or STOs, among other terms). These offerings may be high- or low-risk, depending on the capacities and purposes of the tokens and their issuing ventures, which may imply certain regulatory coverage.