CO- RELATIONSHIP OF TOKEN AND CRYPTOCURRENCY AND TYPES OF TOKENS

The article is devoted to the study of the relationship between the concepts of «token» and «cryptocurrency». The aim of the study is to introduce a classification of tokens and coverage of the main types of tokens in accordance with the IСO Guidance of the Swiss Financial Market Supervisory Authority. The article analyzes the legal nature of stablecoins, certificate tokens, credit and license tokens; The theoretical foundations of their classification have been developed to simplify civil turnover. Differentiation of tokens is due to their functions, which is relevant even for settlement units with the so-called intrinsic value (for example, bitcoins). The analysis offered in the article is a further step for in-depth study of cryptocurrency classification as well as the development of internal sub-classification of tokens. It is advisable to distinguish between «token» and «cryptocurrency», which is due to the different legal nature of these instruments. These concepts should be defined with regard to their content: cryptocurrencies — as a unit of account, token — as units of accounting, with the allocation of cryptocurrency in a separate subtype of the token. In addition, the considered difference between the concepts of «cryptocurrency» and «token» necessitates the legislative consolidation of these concepts. This article analyzes the legal, technological and economic aspects of certain types of tokens: licensed tokens, stablecoins, certificate tokens, stock tokens, credit tokens.