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Howey Test

Judge takes dim view of SEC flip-flops in Ripple hearing
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8 June, 2022

Judge takes dim view of SEC flip-flops in Ripple hearing

The communications in question preceded Hinman’s June 2018 speech in which he declared that tokens based on networks that were...
SEC Chair Gary Gensler: ‘No reason’ to treat digital asset market differently under securities laws
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5 April, 2022

SEC Chair Gary Gensler: ‘No reason’ to treat digital asset market differently under securities laws

The thrust of SEC Chair Gary Gensler’s address may be already self-evident to many: that current laws already apply to...
Ripple accidentally makes a good point in SEC defense: why isn’t ETH an unregistered security too?
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22 July, 2021

Ripple accidentally makes a good point in SEC defense: why isn’t ETH an unregistered security too?

Based on the legal test for determining whether something is a security or not (Howey), the SEC has a case....
Who’s next? SEC accuses LBRY of offering unregistered securities
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31 March, 2021

Who’s next? SEC accuses LBRY of offering unregistered securities

The U.S. regulator said the offering of LBRY, whose business focuses on distribution and monetization of digital content without an...
Ethereum 2.0 is an unexploded regulatory bomb
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14 December, 2020

Ethereum 2.0 is an unexploded regulatory bomb

Ethereum 2.0 has gone live, seemingly without a thought paid to whether the network’s new system falls within the definition...
Telegram abandons Gram token: What does it signal for future of coin offerings?
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25 May, 2020

Telegram abandons Gram token: What does it signal for future of coin offerings?

Future entrepreneurs will be wary of proceeding on a SAFT basis, fearing that they will unintentionally be in non-compliance with...
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