Regulatory Alerts2019-10-17
Guidelines on Security Token Offering
The Bank of Lithuania issued these guidelines to clarify that security tokens qualifying as financial instruments under MiFID II are subject to existing EU and national financial regulations. The document establishes a technology-neutral, substance-over-form approach, requiring issuers and platforms to comply with obligations such as prospectus publication and market abuse rules. It provides regulatory certainty for market participants by defining the scope of investment-type tokens and outlining the applicable legal framework for their issuance and trading.
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