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by fnordpiglet
1185 days ago
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No, that’s not correct. They have to be tested against the Howey test specifically that there’s an enterprise of some sort backing it. This is why securities are distinct from commodities, foreign exchange transactions, or buying baseball cards. Crypto currencies can easily be viewed as securities if they meet certain criteria and some have been declared as such. But it’s far from settled that the SEC broadly has domain over crypto currencies, or if they’re commodities, or more neutrally currencies. They trade and behave much more like currencies or commodities, but some things like staking services behave more like securities. But most definitely “whatever the SEC wants” isn’t the criteria. https://www.investopedia.com/terms/h/howey-test.asp |
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