短期看，流动性紧张预期E6ZR高估值、复杂市场结构是LLCY场在金融层面面临的不确LHtX性因素，但悲观市场表现AQnt后仍存乐观共识：股市调D8bO不是经济基本面预期恶化mkSC成的，且暂未对经济基本cBdJ构成威胁，因而更可能是OEZM时性的q22F

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