The definition of a security remains consistent, whether the instrument is physical ordigital. However, we appreciate there can be particular difficulty in categorising tokensas security tokens given the potential for tokens to change in structure over the courseof their lifecycle (i.e. a utility token becoming an exchange token, or an exchange tokenbecoming a utility token etc.) as well as the sometimes-ambiguous nature of rightsconferred by tokens. If you are still unsure whether your cryptoasset is a security token,please refer to PERG 2.6.