Glossary
SAFT
An investment contract giving a purchaser the right to receive tokens when they are created.
A SAFT is a forward contract over an asset that does not yet exist, which is why its securities characterisation carries risk and why the issuing entity is often a separate vehicle.
Its tax treatment is correspondingly unsettled: whether proceeds are a sale, a deferred obligation or something else has no clear answer in most jurisdictions, which makes a documented position necessary rather than optional.
Where this comes up
See also
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