UltraInfluencer

Crypto tokens, depending on their specific design, can have different functions and characteristics. Some tokens are an integral component of a certain blockchain, such as bitcoin for the Bitcoin blockchain and ether for the Ethereum blockchain. Besides this, smart contracts can be used to create various functional tokens, e.g. with Ethereum. These tokens are created and managed within an existing blockchain infrastructure (in this case, Ethereum). Crypto tokens can essentially be understood as the representation of an intrinsic value or a value determined by the market in digital form by means of distributed ledger technology (DLT). Setting aside the legally relevant constituent statutory elements and their interpretation by BaFin and, in some cases, by the decisions of the highest administrative courts in Germany, crypto tokens can – for the purpose of a simplified overview.