Definition of "fund" is unclear/unwanted

[paulbarclay]

In k(3), the definition of a Token, k(3)iii uses the phrase "company, partnership, or fund". "Company" and "partnership" have clear, narrow definition. However, "fund" is commonly defined as "A comprehensive term for any money that is set aside for a particular purpose".

This poses problems for many decentralized networks, where tokenholders often can have financial rights within the network. For example, Ethereum's upcoming Proof of Stake locks staked tokens into a single pool, with the user having the right to withdraw from that pool (among other rights). This would fall under the definition of "fund".

We don't want to have this safe harbour create a class of "tokenized hedge funds"; at the same time, we don't want this to be so restrictive as to prevent any financial technology development.

[lex-node]

agree w/ this; it's part of what I was trying to capture with this issue