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According to the Cryptoassets Taskforce: Final Report, which was

jointly produced by the Financial Conduct Authority (FCA), HM Treasury and
the Bank of England in October of 2018, a çcryptoasseté can be defined as

ça cryptographically secured digital representation of value or contractual

rights that uses some type of DLT and can be transformed, stored or traded
(3)
electronicallyé. The report also stated though that there is no single, widely-
(4)
agreed upon definition of cryptoassets.

For example, under the Emergency Decree on Digital Asset Businesses

B.E. 2561 (2018) that was issued in Thailand in 2018, the Decree defined

a çdigital asseté as a çcryptocurrency and digital tokené. The Decree further

illuminated the definition of çdigital tokené and çcryptocurrencyé in a general
way, which is subjected to further analysis in the following sections of this
(5)
article.

In addition, the Guidance on cryptoassets (Policy statement: PS 19/22)

was issued by the Financial Conduct Authority of the U.K. in July, 2019. This
document aims to provide regulatory clarity for market participants and

relevant stakeholders. In particular, it is necessary to understand the nature

and characteristics of cryptoassets in order to guide regulatory responses to

(3)
Cryptoassets Taskforce: final report, HM Treasury, Financial Conduct Authority (FCA) and
Bank of England, <https://assets.publishing.service.gov.uk/government/uploads/system/uploads/
attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf> accessed 1
December, 2019. p. 11.
(4)
Ibid.
(5)
The Emergency Decree on Digital Asset Businesses, <http://www.ratchakitcha.soc.go.th/
DATA/PDF/2561/A/033/43.PDF> accessed 1 December, 2019.

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