In this episode of "Understanding Blockchain," Morrison & Foerster's Susan Gault-Brown and Dario de Martino discuss how to determine whether "utility tokens" are securities or not.

This ongoing series is dedicated to providing an overall understanding of blockchain technology and how companies can use it to share, store, and record valuable data through a secure, immutable network.

Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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