Law firm Clifford Chance has produced this guide. It explains that security token offerings involves the issuance of digital tokens using blockchain or distributed ledger technology, and are increasingly being seen as an alternative to mainstream debt and equity fundraisings. Security token offerings or STO are an evolution of the (supposedly) unregulated initial coin offerings or ICO. The report considers how STO are structured and some of the benefits and challenges and explore the evolving regulatory landscape for STO across Europe.
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