⚖️Legal Aspects of Tokenized Projects on Mosaico

Each Tokenization Model, depending on the type of tokenized project, is based on a recommended legal model.

Definitions

Token	Virtual Currency	Utility Token	NFT	Financial Instrument	DEFI
Description	Payment Token	Utility Token	(Property Rights and Intellectual Property)	(Security Token)	(Loans, POS, other financial products)
Legal aspect	Platform virtual currency that does not meet the conditions for electronic money	An identification mark within the meaning of the Civil Code representing a reservation contract for goods or services traded pursuant to the issuer's irrevocable consent to the assignment of rights	A token that is a license agreement for an intellectual property right or represents a share of the consideration due for licensing the intellectual property right	Tokens representing shares in a simple stock company or classic investments on the basis of crowdfunding	Crowdfunding under the terms of Regulation 2020/1503

Decentralized registry

The decentralized registry technology enables the exchange of tokens between users of decentralized portfolios. Thanks to such a solution trading in tokens takes place directly between the seller and the buyer and therefore there is no brokerage or intermediary activity within the meaning of the MiFID II Directive. This protects both the issuer and the tokenizer against accusations of unauthorized trading in financial instruments, which can occur in the case of centralized exchanges of cryptocurrencies.

MOS token

The MOS token is a typical payment token within the Mosaico platform. It meets the definition of a virtual currency contained in the provisions of the Anti-Money Laundering and Countering the Financing of Terrorism Act. However, due to its lack of redeemability, it does not constitute electronic money. The token also has the characteristics of a legitimacy token due to the fact that its value is tied to the Mosaico project portfolio.

The ability to receive benefits from proof-of-stake protocols created by Mosaico is a reward to token holders for using and purchasing MOS tokens. They constitute an unnamed contract with predominantly public promise elements within the meaning of the Civil Code.