[xchaotic]

you misunderstood - it's not limited to cryptocurrency or even DLT - in making the whole scheme elaborate you bypass the traditional AML/KYC regulations - anyone can buy your 'token' without setting up a legal account or using a legal source of funding such as a credit card.

[jedimastert]

If you're buying and selling "tokens" that don't do anything other than provide proof that you've added or subtracted an appropriate amount of value into the system, you've just created a currency. That's basically the definition