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Colorado Digital Token Act
Colorado's Digital Token Act (2019) exempts certain utility tokens from the state's securities registration requirements if they meet specific criteria, making Colorado one of the first US states to create a clear legal pathway for blockchain developers.
encyclopedia
Utility Token
A utility token is a blockchain-based token that provides access to a product or service rather than representing an investment — and therefore potentially falls outside SEC securities regulation, though the distinction is heavily fact-dependent and contested.