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CRA-15.1.4

In order to determine whether a digital token is considered a security, the CBB shall, amongst other things, take into consideration the following:

(a) Does it give the digital token holder an entitlement against the digital token issuer? If so, is the entitlement in kind or a monetary entitlement? If it is monetary entitlement, is it profit sharing, a predetermined entitlement, or an undetermined other kind of entitlement?
(b) Does the digital token represent a monetary claim on the digital token issuer?
(c) Is the digital token transferable?
(d) Does it confer decision power on the project of the digital token issuer?
Added: April 2023