Hi Jeff,
Interesting read!
Being not an expert at all: am I correct that
- this definition of security tokens also applies to tokenised investment funds like Headstart, BullToken, Invictus' Hyperion,...?
- theoretically and ideally they should be the same... but in practice there is still a difference atm between a security token and whether the token is considered a security by authorities? Referring to the interpretation by the local regulators and it's implications in real life for the project's (requirements,...) and the investor's side (taxes, participation rules,...)...
No, investment funds are actually utility tokens ironically enough
In order to be a security token it MUST be legally compliant with regulations and have already gone through all the red-tape and hurdles.
Hope that answers it :)