Code of practice and Non-fungible token: Difference between pages

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1.
''Crypto-assets.''


Relevant published and authoritative guidance not having direct legal effect.
(NFT).


Codes of practice are not statements of law and there is no direct penalty for failing to comply with them, but courts and tribunals will take any relevant codes of practice into account when making legal decisions.
A non-fungible token is a digital token - stored on a blockchain - that certifies a digital asset to be unique.


Sometimes known as codes of conduct.
The best-known, and most expensive, NFTs have related to works of art.




2. ''Pensions''.
The difference between an NFT and a cryptocurrency is that units of the cryptocurrency are fungible (interchangeable) and each of equal value.


In the pensions context Code of Practice is a document issued by the UK Pensions Regulator providing practical guidelines on the requirements of pensions legislation and setting out standards of conduct and practice expected of those who must meet these requirements.
NFTs are - by definition - unique and not interchangeable.


Accordingly, each NFT can have a different value.


==See also==
* [[ACT Ethical Code]]
* [[Code]]
* [[Code of conduct]]
* [[Ethics]]
* [[Good practice]]
* [[Guidance]]
* [[Technical provisions]]
* [[Pensions Regulator]]
* [[UK Corporate Governance Code]]


[[Category:Ethics_and_corporate_governance]]
== See also ==
* [[Bitcoin]]
* [[Blockchain]]
* [[Central bank digital currency]]
* [[Crypto-assets]]
* [[Cryptocurrency]]
* [[Cryptography]]
* [[Currency]]
* [[Digital asset]]
* [[Digital currency]]
* [[Distributed ledger]]
* [[Fungible]]
* [[Intangible assets]]
* [[Money]]
* [[Tangible asset]]
* [[Token]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Investment]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]

Latest revision as of 14:45, 16 December 2021

Crypto-assets.

(NFT).

A non-fungible token is a digital token - stored on a blockchain - that certifies a digital asset to be unique.

The best-known, and most expensive, NFTs have related to works of art.


The difference between an NFT and a cryptocurrency is that units of the cryptocurrency are fungible (interchangeable) and each of equal value.

NFTs are - by definition - unique and not interchangeable.

Accordingly, each NFT can have a different value.


See also

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