Is Cryptocurrency a Security?

There are several developed and emerging markets with cryptocurrency platforms operating within their jurisdictions. In these jurisdictions, cryptocurrency-based transfers are becoming increasingly common and are used to transact on a day to day basis. This week’s article will focus on cryptocurrencies and whether they are considered a security within the Trinidad and Tobago market. 

What is a cryptocurrency? 

Cryptocurrencies also known as virtual assets refer to a digital representation of value that can be digitally traded or transferred and can be used for payment or investment purposes, including digital representations of value that function as a medium of exchange, a unit of account, and/or a store of value (FATF). Most crypto exchanges are unregulated, so it’s important to consider the risks before any investment decision is made.

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