Digital Assets are the following:
Digital or Virtual currencies – meaning a digital representation of value that can be digitally traded as functions as (1) a medium of exchange; and/or (2) a unit of account; and/or (3) a store of value, but does not have legal tender status (i.e., when tendered to a creditor, is a valid and legal offer of payment) in any jurisdiction. It is not issued nor guaranteed by any jurisdiction, and fulfils the above functions only by agreement within the community of users of the virtual currency. Virtual currency is distinguished from fiat currency;
Tokens – meaning digital utility tokens that are issued using Distributed Ledger Technologies which provide users with access to a product or service though do not allow or enable users to own any equity in the product of the issuer or any issuing party or any equity in the service provider, its subsidiary or affiliates.
(together to be referred to as “Digital Assets”).
Please note that Digital Assets explicitly do not include any advisory or dealing services in investments including (a) shares or equity in companies or other legal entities; (b) debt instruments; (c) unit trusts,mutual funds and other collective investment schemes; (d) warrants to subscribe for investments under (a) and (b); (e) depositary receipts or other types of instruments relating to investments under (a), (b) and (c); (f) futures and options; (g) securitised derivatives; (h) hedge funds; (i) contracts for difference.
Digital Asset Management Ltd does not provide advice or assistance in relation to financial instruments, transferable securities or collective investment schemes. Therefore Digital Asset Management is not obligated or regulated under any of the following pieces of legislation: Financial Services (Markets in Financial Instruments) Act 2018; Financial Services (Collective Investment Schemes) Act 2011; Financial Services (Collective Investment Schemes) Regulations; Prospectuses Act 2005.