{"id":161774,"date":"2019-01-02T14:52:05","date_gmt":"2019-01-02T03:52:05","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=161774"},"modified":"2026-02-18T07:17:10","modified_gmt":"2026-02-18T07:17:10","slug":"security-tokens","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/cryptocurrency\/security-tokens","title":{"rendered":"What are security tokens?"},"content":{"rendered":"<div id=\"ukfcyfixeddisclaimer\" class=\"visible no-margin-top\" data-template=\"masthead-two-columns\">\n<div id=\"ukfcyfixeddisclaimerbody\" class=\"text-center fin-text-white\" data-nosnippet><strong>Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <u id=\"ukfcydscmdl\" onclick=\"ukfcyshowmodal();\">Take 2 mins to learn more<\/u>.<\/strong><\/div>\n<\/div>\n<style>\n@media (max-width: 767px) { .fixeddisclaimerbody { letter-spacing: -0.4px; } }\n@media (min-width: 1350px) { #page, #side-nav-container { padding-top: 24px !important; } .gn svg.w-\\[16px\\].h-\\[9px\\] { margin-top: 24px !important; } }\n@media (max-width: 1349px) and (min-width: 701px) { #page, #side-nav-container { padding-top: 48px !important; } .gn svg.w-\\[16px\\].h-\\[9px\\] { margin-top: 48px !important; } }\n@media (max-width: 700px) and (min-width: 481px) { #page, #side-nav-container { padding-top: 68px !important; } }\n@media (max-width: 480px) and (min-width: 381px) { #page, #side-nav-container { padding-top: 86px !important; } }\n@media (max-width: 380px) { #page, #side-nav-container { padding-top: 102px !important; } }\n#ukfcyfixeddisclaimer { top: 0; left: 0; position: fixed; right: 0; width: 100%; z-index: 40001; text-align: center; }\n#ukfcyfixeddisclaimerbody { line-height: 1.2; background-color: #6c7881; overflow: hidden; letter-spacing: -0.2px; padding: 4px 3px 5px 3px; }\n#ukfcymodal { z-index: 40002; }\n#ukfcymodalclosereal { z-index: 40003; position: fixed; left: 0; right: 0; top: 0; bottom: 0; }\n#modal-content { z-index: 40004; }\n.gn .nav-slideout--active { top: auto !important; }\n.gn .fixed { position: static !important; }\n#ukfcydscmdl { cursor: pointer; }\n<\/style>\n\n\n<div class=\"docsModal\">\n<section class=\"luna-modal\" aria-hidden=\"false\" role=\"dialog\" id=\"ukfcymodal\" aria-labelledby=\"modal-heading\" aria-describedby=\"modal-content\" tabindex=\"-1\">\n<div class=\"luna-modal__content\">\n<button id=\"ukfcymodalclose\" class=\"luna-modal__close\" type=\"button\" aria-label=\"Close modal\">\n<svg class=\"luna-icon\" aria-hidden=\"true\"><use xlink:href=\"#close\"><\/use><\/svg>\n<\/button>\n<div id=\"ukfcymodalclosereal\"><\/div>\n<div class=\"luna-modal__body\" id=\"modal-content\">\n<div class=\"luna-modal__wrapper\">\n\n<p><strong>Estimated reading time: 2 min<\/strong><\/p>\n\n<p>Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.<\/p>\n\n<h4 id=\"modal-heading\">What are the key risks?<\/h4>\n\n<p>1. You could lose all the money you invest<\/p>\n\n<ul> \n<li>The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.<\/li>\n<li>The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.<\/li>\n<\/ul>\n\n<p>2. You should not expect to be protected if something goes wrong<\/p>\n\n<ul>\n<li>The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime \u2013 in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS <a href=\"https:\/\/www.fscs.org.uk\/check\/investmentprotection-checker\">investment protection checker<\/a>.<\/li>\n<li>The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection <a href=\"https:\/\/www.financialombudsman.org.uk\/consumers\">here<\/a>.<\/li>\n<\/ul>\n\n<p>3. You may not be able to sell your investment when you want to<\/p>\n\n<ul>\n<li>There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.<\/li>\n<li>Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.<\/li>\n<\/ul>\n\n<p>4. Cryptoasset investments can be complex<\/p>\n\n<ul>\n<li>Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.<\/li>\n<li>You should do your own research before investing. If something sounds too good to be true, it probably is.<\/li>\n<\/ul>\n\n<p>5. Don't put all your eggs in one basket<\/p>\n\n<ul>\n<li>Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.<\/li>\n<li>A good rule of thumb is not to invest more than 10% of your money in high-risk investments.<\/li>\n<\/ul>\n\n<p>If you are interested in learning more about how to protect yourself, visit the FCA's website <a href=\"https:\/\/www.fca.org.uk\/investsmart\">here<\/a>.<\/p>\n\n<p>For further information about cryptoassets, visit the FCA's website <a href=\"https:\/\/www.fca.org.uk\/investsmart\/crypto-basics\">here<\/a>.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n<script>\nfunction ukfcyshowmodal() {\nvar infomodal = document.getElementById(\"ukfcymodal\");\ninfomodal.classList.add('is-visible');\ninfomodal.setAttribute(\"aria-hidden\", \"false\");\ndocument.getElementById(\"ukfcymodalclosereal\").addEventListener('click',function()\n{\nvar infomodal = document.getElementById(\"ukfcymodal\");\ninfomodal.classList.remove('is-visible');\ninfomodal.setAttribute(\"aria-hidden\", \"true\");\n});\n};\n<\/script><p>Security tokens refer to financial securities, such as stocks, bonds and commodities whose ownership is attached to a crypto-token, hosted on a blockchain. Security tokens represent a more traditional type of asset than value-based cryptocurrencies or utility tokens. As such, they are sometimes referred to as digital assets, rather than cryptocurrencies.<\/p><p>Thanks to improved regulatory environments across the globe (particularly in the US) security tokens finally have the green light to enter the marketplace in a legal and compliant way like never before.<\/p><p>Below we explore security tokens in more detail, we explain what makes them different to utility tokens, list which exchanges currently support them and take a look at how they work.<\/p><h3 id=\"What\">What are security tokens?<\/h3><p>Security tokens are revolutionary because they allow for securities such as stocks, bonds or derivatives, as well as commodities and real estate to be <a href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/blockchain-guide\">hosted on the blockchain<\/a> in a tokenised format.<\/p><p>Before we go on, though, it\u2019s important to understand what a security is. Securities traditionally refer to a very broad range of financial assets which can be traded on a regulated market. Common types of securities include stocks (shares), bonds, options and derivatives.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-3\/5@s\"><p>Definitions of security tokens often include assets like commodities, real estate, physical property and art. So it\u2019s important to know that security tokens can in fact refer to much more than just \u201csecurities\u201d.<\/p><p>What this all means is that the definition of a security token can vary, depending on where you are, who you ask and which country you\u2019re operating in.<\/p><p>As a general rule of thumb, security tokens are attached to either a real-world asset (like gold), rights to future profits (dividend payouts) or equity (shares in a company). Alternatively, a utility token entitles the holder to certain rights on a network.<\/p><\/div><div class=\"u-grid__col u-2\/5@s\"><div class=\"fin-video fin-video--horizontal\" data-player-type=\"youtube\" data-video-id=\"MTm8UxZ2TjU\" style=\"\">\n    <div class=\"fin-video__container\">\n                    <img decoding=\"async\" class=\"fin-video__thumbnail\" src=\"https:\/\/img.youtube.com\/vi\/MTm8UxZ2TjU\/maxresdefault.jpg\" data-fallback-sd=\"https:\/\/img.youtube.com\/vi\/MTm8UxZ2TjU\/sddefault.jpg\" data-fallback-hq=\"https:\/\/img.youtube.com\/vi\/MTm8UxZ2TjU\/hqdefault.jpg\" alt=\"\" loading=\"lazy\">\n                            <div class=\"fin-video__duration\">1:01:07<\/div>\n                        <div class=\"fin-video__play-btn\" role=\"button\" aria-label=\"Play video\"><\/div>\n                <iframe allow=\"autoplay\" class=\"fin-video__player\" id=\"ytPlayer-MTm8UxZ2TjU\" title=\"Video player\"><\/iframe>\n    <\/div>\n        <\/div>\n<small>Blockchain lawyer Michael Bacina discusses security tokens<\/small><\/div><\/div>It\u2019s important to remember that security tokens also include things outside the traditional world of finance. This includes <a href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/coins\/how-to-buy-ethereum-classic\">the DAO token<\/a>, which was attached to a purely crypto-economic investment and development fund operated solely by a blockchain. The DAO token entitled holders to dividends and voting rights, similar to shares in a traditional managed investment fund.<p>The DAO token was initially sold as a utility token through an ICO in 2016. However, it was retrospectively classified as a security by the SEC in the US in July 2017. The report which led to the ruling, known as \u201cThe DAO Report\u201d has also been used to retrospectively classify several tokens as securities since it was published. The DAO Report, in conjunction with The Howey Test, can be considered as two very useful tools in determining whether a token is likely to be classified a security token within the US.<\/p><p>Like all new asset classes, security tokens have had their fair share of teething problems. As mentioned above, several existing tokens have been reclassified as securities since the release of The Dao Report and more are likely to follow. And of those tokens which are regarded as securities, not all were sold via compliant methods or registered with the SEC. Furthermore, not all exchanges that trade security tokens are permitted to do so, which is why our exchanges guide below only lists exchanges that are legally registered to trade securities.<\/p><p>Security tokens are still in their early stages, but their future is looking clear. They are increasingly being programmed to comply with laws and regulations in line with the underlying security. Firms like Securitize and Neufund work with clients to launch tokens that are in strict compliance with local securities laws, wherever in the world that may be.<\/p><p>Programming a token with built-in compliance means that some tokens will only be able to trade hands between individuals and institutions that are legally allowed to possess them. Doing so helps avoid some of the situations outlined above. The ability to programme tokens in this way is just one of several advantages security tokens possess over legacy systems.<\/p><p>Furthermore, the emergence of highly specialised security token exchanges will provide a lot of much-needed clarification to traders, who are likely scratching their heads about which security tokens they can and can\u2019t trade. According to Securitize CEO Carlos Domingo \u201cthe exchange needs to onboard the investor\u201d and then verify which markets the trader can participate in. This means that the onus will lie with the exchange, rather than the user, which makes for the smooth and familiar experience that cryptocurrency traders are familiar with.<\/p><h3 id=\"Advantages\">Advantages of security tokens<\/h3><p>So why are people so excited about security tokens?<\/p><p>Security tokens are regarded as revolutionary because they allow for assets to be traded on a blockchain, with all the advantages that confers. Let\u2019s have a look at some of the advantages security tokens offer over traditional financial markets.<\/p><ul class=\"luna-accordionGroup accordionGroup\"> <li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000000\" data-toggle=\"collapse\" data-target=\"#accordion0000000000\">\n        <span class=\"luna-accordion__title\">Transparency and traceability<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000000\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Blockchains are an immutable database of transactions which helps protect against fraud, malpractice and corruption. Furthermore, most blockchains keep a public ledger which is accessible by anyone, allowing anyone to audit the ledger.<\/p><\/div>\n  <\/div>\n<\/li> <li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000001\" data-toggle=\"collapse\" data-target=\"#accordion0000000001\">\n        <span class=\"luna-accordion__title\">Speed<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000001\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>While some blockchains are notoriously slow, others are tailored to financial markets and can process transactions at dazzling speeds. Furthermore, by using smart contracts, security tokens can automate the need for time-consuming tasks that normally require middlemen.<\/p><\/div>\n  <\/div>\n<\/li> <li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000002\" data-toggle=\"collapse\" data-target=\"#accordion0000000002\">\n        <span class=\"luna-accordion__title\">In-built compliance<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000002\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>As mentioned, smart contracts can help eliminate menial tasks which slow things down. Better yet, they can be pre-programmed to deal with much of the legal requirements of securities, such as allowing for KYC, AML, regulatory requirements, legal interpretation. They can also be programmed into the token, meaning only those who are allowed to use the security will be able to trade it.<\/p><\/div>\n  <\/div>\n<\/li> <li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000003\" data-toggle=\"collapse\" data-target=\"#accordion0000000003\">\n        <span class=\"luna-accordion__title\">New investors and markets<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000003\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Part of the blockchain revolution has been opening up financial markets to those who otherwise would not be able to participate. As a result, capital is able to flow in from places and people that it previously couldn\u2019t. Furthermore, digital asset markets operate 24\/7 and aren\u2019t constrained by trading hours. The result is a more active and liquid market for securities and assets.<\/p><\/div>\n  <\/div>\n<\/li> <li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000004\" data-toggle=\"collapse\" data-target=\"#accordion0000000004\">\n        <span class=\"luna-accordion__title\">Fractional ownership<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000004\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Security tokens enable fractional ownership of assets that would have previously only belonged to one person or organisation. For example, valuable art can be owned by multiples parties, real estate can be divided among thousands and even rare artefacts and precious rainforest can be safeguarded by the public. Fractional ownership also increases the liquidity of an asset, which is a valuable metric for traders.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-2\/3@s\"><div class=\"fin-video fin-video--horizontal\" data-player-type=\"youtube\" data-video-id=\"TngpN4zmBZg\" style=\"\">\n    <div class=\"fin-video__container\">\n                    <img decoding=\"async\" class=\"fin-video__thumbnail\" src=\"https:\/\/img.youtube.com\/vi\/TngpN4zmBZg\/maxresdefault.jpg\" data-fallback-sd=\"https:\/\/img.youtube.com\/vi\/TngpN4zmBZg\/sddefault.jpg\" data-fallback-hq=\"https:\/\/img.youtube.com\/vi\/TngpN4zmBZg\/hqdefault.jpg\" alt=\"\" loading=\"lazy\">\n                            <div class=\"fin-video__duration\">51:46<\/div>\n                        <div class=\"fin-video__play-btn\" role=\"button\" aria-label=\"Play video\"><\/div>\n                <iframe allow=\"autoplay\" class=\"fin-video__player\" id=\"ytPlayer-TngpN4zmBZg\" title=\"Video player\"><\/iframe>\n    <\/div>\n        <\/div>\n<\/div><div class=\"u-grid__col u-1\/3@s\"><blockquote><p>It\u2019s known that there is an 80\u2013100 billion US dollar inefficiency in the way that securities are traded today \u2013 <b>Securitize CEO Carlos Domingo<\/b> on why security tokens are better than legacy systems<\/p><\/blockquote><\/div><\/div><\/div>\n  <\/div>\n<\/li><\/ul><h3 id=\"Exchanges\">Security token exchanges<\/h3><p>With security tokens set to lead the next evolution of blockchain markets, exchanges are excited to join in on the action. As such, a number of <a href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/exchanges\">existing cryptocurrency exchanges<\/a> are exploring adding security tokens to their rosters, while in some cases totally new exchanges are being built to more closely comply with the regulation required to trade securities as well as cryptocurrencies.<\/p><p>Below we\u2019ve collected a list of exchanges that currently support security tokens.<\/p><ul class=\"nav nav-tabs pb-tabs\"><li class=\"active\"><a href=\"#tab4924\" data-toggle=\"tab\">Exchanges that currently support security tokens<\/a><\/li><li class=\"\"><a href=\"#tab9436\" data-toggle=\"tab\">Exchanges looking to add security tokens in the future<\/a><\/li><\/ul><div class=\"tab-content \"> <div id=\"tab4924\" class=\"tab-pane active \"><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><ul class=\"list-10\"><li>Gibraltar Blockchain Exchange<\/li><li>Malta Digital Exchange<\/li><li>T-Zero<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><ul class=\"list-10\"><li>Templum<\/li><li>Open Finance Network<\/li><li>BnkToTheFuture<\/li><\/ul><\/div><\/div><\/div><div id=\"tab9436\" class=\"tab-pane \"><ul><li>Binance (in accordance with Maltese law) <strong>Warning:<\/strong> Binance offers cryptocurrency derivatives which the regulator <a class=\"c-link\" data-stringify-link=\"https:\/\/www.finder.com\/uk\/news\/consumers-set-to-save-53m-after-regulator-tightens-crypto-rules\" delay=\"150\" data-sk=\"tooltip_parent\" href=\"https:\/\/www.finder.com\/uk\/news\/consumers-set-to-save-53m-after-regulator-tightens-crypto-rules\">banned from sale<\/a> to UK consumers in January 2021.<\/li><li>Poloniex (in accordance with US law)<\/li><li>Coinbase (in accordance with US law)<\/li><\/ul><\/div><\/div>It\u2019s important to note that some exchanges may already be trading security tokens. However, it may also be the case that they are not legally allowed to in certain jurisdictions or that the exchange is hosting a security token without knowing it. As such, we have made sure to only list exchanges with explicit legal permission to trade securities within its respective jurisdiction.<p>Lastly, decentralised exchanges are another place where you might be able to trade security tokens, although given their decentralised nature, it is up to the user to research whether trading securities on such an exchange is legal according to their country\u2019s laws.<\/p><p><a class=\"more-link-arrow\" href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/defi\/decentralised-cryptocurrency-exchanges\">Compare and learn about decentralised exchanges<\/a><\/p><h3 id=\"Utility\">Difference between security tokens and utility tokens<\/h3><p>Unlike most things in blockchain, the difference between security and utility tokens is actually quite clear.<\/p><p>In short, a utility token gives you rights to operate and participate on a network. Whereas a security token gives you rights of ownership or entitlement to an asset.<\/p><p>Let\u2019s expand on those a little bit.<\/p><p>As mentioned, a utility token gives the holder certain rights on a network, such as the ability to transact on <a href=\"https:\/\/www.finder.com\/uk\/ethereum\">Ethereum<\/a> by paying gas fees in ETH or participate in voting on <a href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/coins\/how-to-buy-eos\">EOS<\/a> by staking your tokens. On the peer-to-peer electricity trading platform, Power Ledger, users must first acquire and stake POWR tokens in order to buy or sell electricity on the network.<\/p><p>Utility tokens are usually issued via initial coin offerings (ICOs) in which buyers sign up and purchase utility tokens for an agreed-upon amount, which is usually less than US$1 per token. ICOs can be conducted in a number of ways, but one of the more common methods is to send cryptocurrency (usually ETH) to a smart-contract address. Once the token sale period is over, that smart contract then sends back the newly minted utility tokens in return.<\/p><p>Another way of issuing utility tokens is to airdrop them to existing cryptocurrency holders at random, in the anticipation users will take up the use of the associated network because they now own the token.<\/p><p>Security tokens on the other hand exist in a much more tightly regulated world than ICOs and airdrops.<\/p><p>As outlined above, a security token is a tokenised version of a real-world asset or security that can exist outside of the blockchain. This could be a share in an investment portfolio, a single Amazon stock or a gram of gold. Securities have strict laws which accompany their sale and trade, whereas assets are usually a bit more fluid.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-2\/5@s\"><div class=\"fin-video fin-video--horizontal\" data-player-type=\"youtube\" data-video-id=\"WJZG95slka8\" style=\"\">\n    <div class=\"fin-video__container\">\n                    <img decoding=\"async\" class=\"fin-video__thumbnail\" src=\"https:\/\/img.youtube.com\/vi\/WJZG95slka8\/maxresdefault.jpg\" data-fallback-sd=\"https:\/\/img.youtube.com\/vi\/WJZG95slka8\/sddefault.jpg\" data-fallback-hq=\"https:\/\/img.youtube.com\/vi\/WJZG95slka8\/hqdefault.jpg\" alt=\"\" loading=\"lazy\">\n                            <div class=\"fin-video__duration\">19:28<\/div>\n                        <div class=\"fin-video__play-btn\" role=\"button\" aria-label=\"Play video\"><\/div>\n                <iframe allow=\"autoplay\" class=\"fin-video__player\" id=\"ytPlayer-WJZG95slka8\" title=\"Video player\"><\/iframe>\n    <\/div>\n        <\/div>\n<p><small>Stephane De Baets of Elevated Returns discussing the Aspen Coin STO<\/small><\/p><\/div><div class=\"u-grid__col u-3\/5@s\"><p>For example, Aspen Coin gives holders shares in a real estate investment trust (REIT), which includes the St. Regis Aspen Resort. A share in a REIT is a type of security. In addition to ownership of shares, the coin also entitles holders to dividends paid out by the REIT.<\/p><p>The security token offering (STO) was conducted through Templum Markets, which is an SEC-registered trading platform. In the US, only accredited investors were allowed to participate, but outside the US anyone was allowed to join, provided they had the minimum amount of US$10,000.<\/p><\/div><\/div><p>STOs must abide by strict know-your-customer (KYC) and anti-money-laundering (AML) laws as well as a host of other legislation. While many ICOs now implement KYC and AML, this has not always been the case and airdrops circumvent this practice altogether.<\/p><p>As you can see, the difference between utility and security tokens is quite clear, both in terms of what it entitles the holder to, as well as how it is issued and used.<\/p><h3 id=\"STOs\">Security token offerings (STOs)<\/h3><p>Along with a new type of token comes a new type of token offering. Security tokens are issued via STOs which involve more legal procedures than ICOs or airdrops. As such, several new platforms have been developed to help aid the legal issuance of STOs.<\/p><p>For instance the Polymath network uses a new token standard called the ST-20 which features built-in compliance, allowing users to issue security tokens in the US. Securitize and Harbor are two platforms which use the Ethereum blockchain to issue ERC-20 tokens with built-in compliance measures.<\/p><p>Then there is Neufund, a token issuance platform based in the EU. It has developed a hybrid model called the Equity Token Offering which looks to combine features of ICOs, IPOs and venture capital funding.<\/p><p>STOs are still a very new concept, so it is likely that their operation, legal status and availability will be subject to change over the coming months and years. Furthermore, because they focus on laws within a certain jurisdiction, eligibility to participate in STOs will vary on a case-by-case basis.<\/p><div class=\"must-read u-bg--purple-subtle u-rounded--lg\" data-component=\"must-read\">\n    <div class=\"must-read__block\">\n        <h4 class=\"must-read__title\">\n            <span class=\"must-read__title-icon\">\n                <svg width=\"32\" height=\"32\" viewbox=\"0 0 32 32\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                    <path d=\"M26.9325 26.9998H5.0675C3.49 26.9998 2.5 25.3486 3.26625 24.0111L14.1988 5.02734C14.9863 3.65234 17.0138 3.65234 17.8013 5.02734L28.7338 24.0111C29.5 25.3486 28.51 26.9998 26.9325 26.9998Z\" fill=\"#B469FF\"><\/path>\n                    <path d=\"M29.6 23.5113L18.6688 4.52758C18.3956 4.06249 18.0056 3.67686 17.5375 3.40891C17.0694 3.14096 16.5394 3 16 3C15.4606 3 14.9306 3.14096 14.4625 3.40891C13.9944 3.67686 13.6044 4.06249 13.3312 4.52758L2.4 23.5113C2.13717 23.9612 1.99866 24.4728 1.99866 24.9938C1.99866 25.5148 2.13717 26.0265 2.4 26.4763C2.66966 26.9442 3.05896 27.332 3.52795 27.5997C3.99694 27.8675 4.52873 28.0057 5.06875 28.0001H26.9313C27.4708 28.0052 28.0021 27.8669 28.4706 27.5991C28.9391 27.3314 29.328 26.9439 29.5975 26.4763C29.8607 26.0267 29.9997 25.5152 30.0001 24.9942C30.0005 24.4732 29.8625 23.9614 29.6 23.5113ZM27.8662 25.4751C27.771 25.6376 27.6341 25.7719 27.4698 25.8642C27.3055 25.9564 27.1197 26.0033 26.9313 26.0001H5.06875C4.88034 26.0033 4.69446 25.9564 4.53016 25.8642C4.36586 25.7719 4.22904 25.6376 4.13375 25.4751C4.04743 25.3289 4.0019 25.1623 4.0019 24.9926C4.0019 24.8228 4.04743 24.6562 4.13375 24.5101L15.065 5.52633C15.1622 5.36455 15.2997 5.23068 15.4639 5.13773C15.6282 5.04479 15.8138 4.99595 16.0025 4.99595C16.1912 4.99595 16.3768 5.04479 16.5411 5.13773C16.7053 5.23068 16.8428 5.36455 16.94 5.52633L27.8713 24.5101C27.9568 24.6567 28.0015 24.8235 28.0006 24.9933C27.9997 25.163 27.9533 25.3294 27.8662 25.4751ZM15 18.0001V13.0001C15 12.7349 15.1054 12.4805 15.2929 12.293C15.4804 12.1054 15.7348 12.0001 16 12.0001C16.2652 12.0001 16.5196 12.1054 16.7071 12.293C16.8946 12.4805 17 12.7349 17 13.0001V18.0001C17 18.2653 16.8946 18.5197 16.7071 18.7072C16.5196 18.8947 16.2652 19.0001 16 19.0001C15.7348 19.0001 15.4804 18.8947 15.2929 18.7072C15.1054 18.5197 15 18.2653 15 18.0001ZM17.5 22.5001C17.5 22.7968 17.412 23.0868 17.2472 23.3334C17.0824 23.5801 16.8481 23.7724 16.574 23.8859C16.2999 23.9994 15.9983 24.0291 15.7074 23.9713C15.4164 23.9134 15.1491 23.7705 14.9393 23.5607C14.7296 23.351 14.5867 23.0837 14.5288 22.7927C14.4709 22.5017 14.5006 22.2001 14.6142 21.9261C14.7277 21.652 14.92 21.4177 15.1666 21.2529C15.4133 21.0881 15.7033 21.0001 16 21.0001C16.3978 21.0001 16.7794 21.1581 17.0607 21.4394C17.342 21.7207 17.5 22.1023 17.5 22.5001Z\" fill=\"#232320\"><\/path>\n                <\/svg>\n            <\/span>\n            <span class=\"must-read__title-text\">Must read: STOs vs ICOs<\/span>\n        <\/h4>\n        <div class=\"must-read__content\">\n            <p>In the context of startup fundraising, STOs are becoming regarded as a more equitable way to raise capital than the previous ICO model.<\/p><p>This is because they give buyers an actual asset, such as a share of the company\u2019s equity, rather than a utility token which is technically decoupled from the success of the underlying company.<\/p><p>As a result, it is likely that in the future many companies will be under pressure to issue tokens via an STO instead of an ICO, when applicable.<\/p><p>This is because an STO leaves buyers with a security token, rather than a utility token which is dependent on network usage to gain value. If a company issues a utility token and then later makes profits in ways that are not connected to the utility token, then unfortunately, utility token holders have no rights to share in those profits.<\/p><p>Furthermore, ICOs are more vulnerable to exit scams because the company issuing the utility token has no shareholders to which they are accountable.<\/p><p>On the other hand, if a company issues security tokens via an STO, where the security token represents something like an equity share in the company, then the holders of the token are expected to share in that success through ownership of the token. Additionally, security tokens may even entitle the holder to payouts such as dividends.<\/p><p>However, it is important to remember that as outlined above, a security token can be almost anything tangible such as precious metals or property, so just because you are participating in an STO does not mean you are getting shares in a company.<\/p><p>This isn\u2019t to say that utility tokens are less valuable than security tokens. Rather they are two different products, with two different use-cases. The issue is that utility tokens have frequently been used to fill the role of security tokens, often leaving buyers with a product of questionable value and legality.<\/p><p>Now that regulatory bodies around the world have taken action on cryptocurrencies, information on whether a token is legally a utility or security is much clearer. As such, the way is now paved for security tokens to enter the market in accordance with  regulatory bodies.<\/p><p>Therefore it is unlikely one type of token will dominate the other. Instead, companies looking to fundraise will now have the option of deciding which type of token best suits their product. Although it will still be up to savvy consumers to make sure they are getting the best deal, which will involve critical thinking about whether a security or utility token is best suited to the product.\n        <\/p><\/div>\n    <\/div>\n<\/div>\n<h3 id=\"Legalities\">Are security tokens legal?<\/h3><div class=\"u-grid\"><div class=\"u-grid__col u-3\/5@s\"><p>The legal status of security tokens depends on where the token was created in and is being traded in. However, they are not currently regulated by the Financial Conduct Authority in the UK (as of January 2022).<\/p><p>Each country or region may have its own laws about what constitutes a security, who can issue securities, who can sell securities and who can buy securities.<\/p><p>Furthermore, if the country is hostile towards Bitcoin and cryptocurrencies, then there is a chance security tokens will be swept up in those laws too.<\/p><\/div><div class=\"u-grid__col u-2\/5@s\"><div class=\"fin-video fin-video--horizontal\" data-player-type=\"youtube\" data-video-id=\"TngpN4zmBZg\" style=\"\">\n    <div class=\"fin-video__container\">\n                    <img decoding=\"async\" class=\"fin-video__thumbnail\" src=\"https:\/\/img.youtube.com\/vi\/TngpN4zmBZg\/maxresdefault.jpg\" data-fallback-sd=\"https:\/\/img.youtube.com\/vi\/TngpN4zmBZg\/sddefault.jpg\" data-fallback-hq=\"https:\/\/img.youtube.com\/vi\/TngpN4zmBZg\/hqdefault.jpg\" alt=\"\" loading=\"lazy\">\n                            <div class=\"fin-video__duration\">51:46<\/div>\n                        <div class=\"fin-video__play-btn\" role=\"button\" aria-label=\"Play video\"><\/div>\n                <iframe allow=\"autoplay\" class=\"fin-video__player\" id=\"ytPlayer-TngpN4zmBZg\" title=\"Video player\"><\/iframe>\n    <\/div>\n        <\/div>\n<p><small>Securitize CEO Carlos Domingo explains the legalities of security tokens<\/small><\/p><\/div><\/div><article class=\"luna-card luna-card--border\"><div class=\"luna-card__block\"><h3 id=\"Summary\">In a nutshell<\/h3><div class=\"fin-pros-cons\">\n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Pros<\/h4>\n            <ul class=\"icon-list icon-list--check-circle\">\n                                    <li><strong>Efficiency:<\/strong> A more efficient way to trade securities than using legacy systems.<\/li>\n                                    <li><strong>Regulation:<\/strong> Subject to local laws and regulations which offer various levels of consumer protection.<\/li>\n                                    <li><strong>Compliant:<\/strong> Regulatory compliance can be pre-programmed into the token.<\/li>\n                                    <li><strong>Liquidity:<\/strong> Blockchain leads to more-democratic involvement in financial markets which is expected to increase liquidity in the long term.<\/li>\n                                    <li><strong>Innovative:<\/strong> Fractional ownership opens up totally new investment pathways.<\/li>\n                                    <li><strong>Traceable:<\/strong> Increased traceability means stolen funds could potentially be returned to the user.<\/li>\n                                    <li><strong>New tokens:<\/strong> Security tokens offer a more traditional form of investment than utility tokens.<\/li>\n                                    <li><strong>Legitimate:<\/strong> Security token exchanges offer further legitimacy to blockchain markets.<\/li>\n                                    <li><strong>Future-oriented:<\/strong> Further blurs the lines between cryptocurrency markets and legacy markets.<\/li>\n                            <\/ul>\n        <\/div>\n    \n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Cons<\/h4>\n            <ul class=\"icon-list icon-list--x-circle\">\n                                    <li><strong>Developing:<\/strong> Still an emerging market with very limited availability of tradable securities and assets at present.<\/li>\n                                    <li><strong>Complexity:<\/strong> Restricted by local laws and regulations which makes trading security tokens more complex than utility tokens or cryptocurrencies.<\/li>\n                                    <li><strong>Legality:<\/strong> May not be legally compliant in your area.<\/li>\n                                    <li><strong>Personal responsibility:<\/strong> More accountability on the user to know which products and markets they can legally interact with, especially when using a decentralised exchange.<\/li>\n                                    <li><strong>Security:<\/strong> Blockchain security is still a developing field and is vulnerable to hacking and phishing.<\/li>\n                            <\/ul>\n        <\/div>\n    <\/div>\n<\/div><\/article><article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\"><p class=\"has-margin-bottom-xsmall\">*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.<\/p><p>Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.<\/p><\/div><\/article>\n\n\n<div class=\"newsletter\">\n    <form method=\"post\" action-xhr=\"\/wp-json\/notification-service-proxy\/v1\/track\" class=\"form-signup js-ns-newsletter\" data-form=\"OnPageEmbed\" data-niche=\"FCY-CAMPAIGN-CRYPTOCURRENCY\" data-page-niche=\"GXFCY\" data-form-type=\"newsletter\">\n<input type=\"hidden\" name=\"eventName\" value=\"newsletterSubscribed\">\n<input type=\"hidden\" name=\"payload[submitNiche]\" value=\"FCY-CAMPAIGN-CRYPTOCURRENCY\">\n<input type=\"hidden\" name=\"payload[submitUrl]\" value=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/security-tokens\">\n<input type=\"hidden\" name=\"payload[submitForm]\" value=\"OnPageEmbed\">\n<input type=\"hidden\" name=\"payload[submitDomainCountry]\" value=\"AU\">\n        <div class=\"form-signup__group\">\n                            <label class=\"luna-label\" for=\"ns-newsletter\">Get the crypto newsletter read by 6,000+ investors \ud83d\ude80<\/label>\n                        <div class=\"form-signup__field\">\n                <div class=\"luna-inset luna-inset--left js-email\">\n                    <input name=\"email\" class=\"luna-input\" type=\"text\" aria-describedby=\"ns-subscription-privacy-generic\" placeholder=\"Enter your email address\" id=\"ns-newsletter-generic\" required>\n                    <span class=\"luna-icon\"><\/span>\n                <\/div>\n<small class=\"disclaimer-text\" id=\"ns-subscription-privacy-generic\">\n    <input class=\"luna-checkbox\" type=\"checkbox\" id=\"checkbox-privacy-policy-generic\" required>\n    <label class=\"luna-label\" for=\"checkbox-privacy-policy-generic\">\n    <small>\n        I agree to the <a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"\/uk\/privacy-policy\">Privacy and Cookies Policy<\/a>, <a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"\/uk\/terms-of-use\">finder.com Terms of Use<\/a> and to receive emails from Finder \n    <\/small>\n    <\/label>\n<\/small>\n                <button type=\"submit\" class=\"luna-button luna-button--action relative has-overflow-hidden\" id=\"newsletterCTA\">\n                    <span class=\"btn__content\">Join for free<\/span>\n                    <span class=\"btn__success icon-tick\"><\/span>\n                <\/button>\n            <\/div>\n        <\/div>\n<div submit-success>\n    <template type=\"amp-mustache\">\n      Success! 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about security tokens and why some experts consider them the next big thing in the cryptocurrency 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This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Security tokens: Are they really the next big thing? | Finder UK<\/title>\n<meta name=\"description\" content=\"Your guide to security tokens, including what they are, where they&#039;re being traded and why some experts are calling them the next big thing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finder.com\/uk\/cryptocurrency\/security-tokens\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What are security tokens?\" \/>\n<meta property=\"og:description\" content=\"Your guide to security tokens, including what they are, where they&#039;re being traded and why some experts are calling them the next big thing.\" \/>\n<meta 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We chat with Securitize CEO Carlos Domingo to find out","description":"Multistreaming with https:\/\/restream.io\/\n\nSubscribe to Crypto Finder on YouTube \ud83d\udd3a http:\/\/bit.ly\/2I0ma0i\n\n\u27a4 Finders first guide to cryptocurrency book is here https:\/\/www.finder.com.au\/new-release-book-cryptocurrency \n\u27a4 Institutional investors are buying the dip - Greyscale now own 1% of all bitcoin\n\u27a4 Nexo is set to share nearly $1 million in dividends\n\u27a4 New start-up Rider propose a dual token model - combining utility and security tokens\n\u27a4 Waves launch a new mobile wallet with a built in DEX - is it the first of its kind?\n\u27a4 ConsenSys fund two new startups - one of  which will make Ethereum private\n\nHost: Fred Schebesta \u27a4 LinkedIn https:\/\/www.linkedin.com\/in\/fredschebesta\/ | Twitter https:\/\/twitter.com\/Schebesta \n\nProducer & Writer: James Edwards \u27a4 LinkedIn https:\/\/www.linkedin.com\/in\/james-f-edwards\/ | Twitter https:\/\/twitter.com\/js_halicon \n\nLive Stream Director: Joel Rennie \u27a4 LinkedIn https:\/\/www.linkedin.com\/in\/joel-rennie\/ | Twitter \nhttp:\/\/www.twitter.com\/Lontray \n\nFOLLOW CRYPTO FINDER \n\n\u25b6\ufe0f Twitter - https:\/\/twitter.com\/cryptofindertv\n\ud83d\udc4d Facebook - https:\/\/www.facebook.com\/cryptofindertv\n\u25b6\ufe0f Telegram - http:\/\/t.me\/cryptofindertv\n\nWatch #TheDailyExchange live every day on Crypto Finder TV\n\nFind all the latest cryptocurrency news, analysis and how to's here: https:\/\/www.finder.com\/cryptocurrency\n\nDisclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks \u2013 they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. Finder, or the presenter(s), may have holdings in the cryptocurrencies discussed.","uploadDate":"2018-12-06T01:48:03Z","duration":"PT51M46S","url":"https:\/\/www.youtube.com\/watch?v=TngpN4zmBZg&feature=youtu.be&t=2200","contentUrl":"https:\/\/www.youtube.com\/watch?v=TngpN4zmBZg","embedUrl":"https:\/\/www.youtube.com\/embed\/TngpN4zmBZg","thumbnailUrl":"https:\/\/i.ytimg.com\/vi\/TngpN4zmBZg\/maxresdefault.jpg"},{"@context":"https:\/\/schema.org\/","@type":"VideoObject","name":"Talking Real Estate Tokenization & Security Tokens with Stephane Debaets from AspenCoin","description":"Multistreaming with https:\/\/restream.io\/\n\nSubscribe to Crypto Finder on YouTube \ud83d\udd3a http:\/\/bit.ly\/2I0ma0i\n\nTalking Real Estate Tokenization & Security Tokens with Stephane Debaets from AspenCoin and Elevated Returns.\n\nFOLLOW CRYPTO FINDER \n\n\u25b6\ufe0f Twitter - https:\/\/twitter.com\/cryptofindertv\n\ud83d\udc4d Facebook - https:\/\/www.facebook.com\/cryptofindertv\n\u25b6\ufe0f Telegram - http:\/\/t.me\/cryptofindertv\n\nWatch #TheDailyExchange live every day on Crypto Finder TV\n\nFind all the latest cryptocurrency news, analysis and how to's here: https:\/\/www.finder.com\/cryptocurrency\n\nDisclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks \u2013 they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. Finder, or the presenter(s), may have holdings in the cryptocurrencies discussed.","uploadDate":"2018-10-30T01:51:59Z","duration":"PT19M28S","url":"https:\/\/www.youtube.com\/watch?v=WJZG95slka8&feature=youtu.be&t=220","contentUrl":"https:\/\/www.youtube.com\/watch?v=WJZG95slka8","embedUrl":"https:\/\/www.youtube.com\/embed\/WJZG95slka8","thumbnailUrl":"https:\/\/i.ytimg.com\/vi\/WJZG95slka8\/maxresdefault.jpg"},{"@context":"https:\/\/schema.org\/","@type":"VideoObject","name":"Will Security Tokens replace Utility Tokens? 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It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks \u2013 they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. Finder, or the presenter(s), may have holdings in the cryptocurrencies discussed.","uploadDate":"2018-12-06T01:48:03Z","duration":"PT51M46S","url":"https:\/\/www.youtube.com\/watch?v=TngpN4zmBZg&feature=youtu.be&t=1896","contentUrl":"https:\/\/www.youtube.com\/watch?v=TngpN4zmBZg","embedUrl":"https:\/\/www.youtube.com\/embed\/TngpN4zmBZg","thumbnailUrl":"https:\/\/i.ytimg.com\/vi\/TngpN4zmBZg\/maxresdefault.jpg"}]},"article_modified_time":"2022-01-12T12:16:35+00:00"},"custom_fields":{"_content_type":["niche-content\/information\/niche-article"],"show_author_box":["true"],"_masthead_variant":["{\"id\":\"standard-blue\",\"showFeaturedImage\":false,\"presetId\":\"\",\"shouldUsePrimaryCTAFieldName\":false,\"shouldUseSecondaryCTAFieldName\":false,\"primaryCTA\":null,\"secondaryCTA\":null,\"widgetShortcode\":\"\",\"widgetHeading\":\"\",\"widgetStats\":\"\",\"hasPrioritizedWidget\":false,\"hasMaximizedWidget\":false,\"shouldUseOverrideCTALabel\":false,\"overrideCTA\":null,\"cleanTopPicks\":\"\",\"tilesMenuId\":\"\"}"],"_masthead_subheading":["{\"text\":\"Find out why security tokens are being called the next big thing, and where to buy and trade them.\"}"],"custom_post_template":["single-masthead-two-column.php"]},"amp_enabled":false,"_links":{"self":[{"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/posts\/161774"}],"collection":[{"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/users\/551"}],"replies":[{"embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/comments?post=161774"}],"version-history":[{"count":10,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/posts\/161774\/revisions"}],"predecessor-version":[{"id":573541,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/posts\/161774\/revisions\/573541"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/media\/161780"}],"wp:attachment":[{"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/media?parent=161774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/categories?post=161774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/tags?post=161774"},{"taxonomy":"asset_tag","embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/asset_tag?post=161774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}