TOKENS COMME DROITS DE VALEUR & OFFRES DE TOKENS ET CENTRES COMMERCIAUX DÉCENTRALISÉS, LES

Ce livre a été traduit de l'allemand vers le français au moyen de l'intelligence artificielle (traduction automatique). This book was translated from German into French by means of artificial intelligence (machine translation). This academic paper deals with both civil (securities) law and regulatory (securities) law aspects. Thus, a summary of the property law is provided, which deals with the classification of tokens under Liechtenstein law. Furthermore, dematerialized securities, which have been known to the Liechtenstein legal system for almost 100 years, will be dis-cussed. The civil and corporate law focus is on Liechtenstein, while the Swiss corporate law and the general civil law of Austrian law are also taken into account. The supervisory part of the work is clearly in the focus of Union law, but also takes into account national specialties of Liechtenstein, Austria and Germany in addition to European legal acts. Thus, tokens and token-based business models are also examined in the light of Europ