Thesetokensdonotqualifyassecuritiesonlyiftheirsolepurposeistoconferdigitalaccessrightstoanapplicationorserviceandiftheutilitytokencanalreadybeusedinthiswayatthepointofissue.Ifautilitytokenfunctionssolelyorpartiallyasaninvestmentineconomicterms,FINMAwilltreatsuchtokensassecurities(i.e.inthesamewayasassettokens).

但从短期来看，投资偏差对MUQI当年EV变动的影响也很大，因此股市的良好表现能够显JcsY促进2017年EV的增长。