Token Classification & Securities Law Analysis

Market-leading legal analysis determining the regulatory classification of digital assets and cryptoassets. gunnercooke pioneered the first functional cryptoasset classification framework and provides authoritative legal opinions on token securities status across multiple jurisdictions.

Token Classification Services

Cryptoasset Functional Classification:

• Pioneered first functional classification framework published in Ledger academic journal
• Token economic structuring and comprehensive legal analysis
• Security token vs. utility token determination
• Payment token, utility token, and asset-backed token analysis
• Governance token regulatory classification
• NFT securities analysis

Securities Law Analysis:

• Howey Test analysis for US securities law compliance
• UK Financial Conduct Authority (FCA) securities classification
• EU MiCA (Markets in Crypto-Assets) regulatory positioning
• Multi-jurisdictional securities law assessments
• Token design recommendations to achieve desired classification
• Legal opinion letters to banks regarding token acceptability

Regulatory Risk Assessment:

• Token launch regulatory risk assessments across jurisdictions
• ICO/IEO/IDO regulatory compliance analysis
• DeFi protocol regulatory positioning and token classification
• Staking token securities analysis
• Tokenized securities classification and compliance frameworks
• Secondary market trading regulatory implications

Digital Securities Expertise

Security Token Analysis:

• Security token offering (STO) classification and compliance
• Equity tokenization regulatory framework analysis
• Tokenized fund unit securities analysis
• Real estate and commodity tokenization regulatory positioning
• Prospectus Regulation compliance assessment
• MiFID applicability for digital securities platforms

Regulatory Opinion Letters:

• Formal legal opinion letters on token classification
• Token classification memos for investors and platforms
• Bank-acceptable legal opinions on crypto business model compliance
• Regulatory status assessments for exchanges and custody platforms
• Legal opinions supporting token listings

Industry Leadership & Notable Experience

Regulatory Innovation:

• Team members provided evidence to UK All-Party Parliamentary Group on Blockchain
• Named contributors to UKJT (UK Jurisdictional Task Force) statement on proprietary nature of cryptoassets
• Published first functional cryptoasset classification in peer-reviewed Ledger journal
• Advised on first successful ICO in UK
• Advised on first equity issuance settled on blockchain
• Helped shape UK legal and regulatory framework for crypto

Target Clients

Token issuers, blockchain platforms, crypto-exchanges, DeFi protocols, crypto funds, traditional financial institutions evaluating crypto exposure, security token platforms, tokenization projects, and investors requiring legal opinions on token status.

Why Choose gunnercooke

gunnercooke's team literally wrote the book on cryptoasset classification, having published the first functional framework in an academic journal. They are trusted advisors who helped shape the UK legal and regulatory framework rather than just interpreting it. The team combines genuine deep understanding of token economics and blockchain technology with sophisticated securities law expertise across multiple jurisdictions. Their involvement in landmark transactions including the UK's first ICO and first blockchain-settled equity issuance demonstrates pioneering practical experience.