Barclays proposes new taxonomy for digital tokens

A common approach to classifying tokens is needed to prevent regulatory arbitrage, UK bank argues

Token offering: Barclays’ taxonomy distinguishes between cryptocurrencies and other digital assets

The lack of a common taxonomy for categorising digital tokens is creating opportunities for regulatory arbitrage, according to technologists at Barclays. The UK bank is pushing a new taxonomy for describing and distinguishing between cryptocurrencies and other digital assets, outlined in a paper published on August 26, which it hopes can serve as the basis for a global standard.  

Existing taxonomies have failed to keep pace with the speed of development of new types of digital tokens