Thesetokensdonotqualifyassecuritiesonlyiftheirsolepurposeistoconferdigitalaccessrightstoanapplicationorserviceandiftheutilitytokencanalreadybeusedinthiswayatthepointofissue.Ifautilitytokenfunctionssolelyorpartiallyasaninvestmentineconomicterms,FINMAwilltreatsuchtokensassecurities(i.e.inthesamewayasassettokens).

算法银行有几个变种，比如Basecoin参考了Seigniorage，不过除了有股份和稳定货币，还引入了债券（bond）的概念tPR7