jurisdiction

Legislation in broad terms is a written or unwritten, codified or uncodified collection of laws, provisions and legal practices and rules that provide legal framework for the execution and implementation of governmental decrees and orders.

Legislation is passed by legal authorities and provides the foundation for the functioning of the government, the economy, businesses, companies, and civil society. An example of security tokens legislation in the US is SEC regulations. Various jurisdictions, however, impose different regulatory requirements for security and equity token offerings.

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