Definition ∞ Crypto tokens are digital assets issued on an existing blockchain, representing a range of utilities or values. Unlike native cryptocurrencies, they do not have their own independent blockchain. Tokens can represent ownership, access rights, or other fungible or non-fungible assets within specific decentralized applications or ecosystems. They facilitate various functions within smart contract platforms.
Context ∞ Crypto tokens are central to the decentralized finance (DeFi) sector, non-fungible tokens (NFTs), and various Web3 projects. Regulatory scrutiny frequently focuses on classifying tokens as securities or commodities, impacting their issuance, trading, and market perception. Their utility and legal standing are key discussion points shaping the digital asset landscape.
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