Payment tokens are synonymous with cryptocurrencies. Payment tokens may in some cases develop the necessary functionality and become accepted as a means of payment over time. An example would be cryptocurrencies in the strict sense of the term such as Bitcoin.
- trigger AML requirements (AML)
- hybrid payment tokens with an asset component trigger securities regulations (Token Classification)
- non-hybrid i.e. pure payment tokens, with no asset component: do not trigger securities regulations provided that they are designed to act as a means of payment
