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Eth used an ICO.

• bpicolo 9y ago
  Still not a security as it's not intended as stake in a business
  • Alex3917 9y ago
    > Still not a security as it's not intended as stake in a business What matters is if the expectation of profit comes from the efforts of a promoter or third party, not whether the investment is a share of a business.
  • DINKDINK 9y ago
    When Ethereum ICO'ed it definitely met the Howey test for securities criteria. The SEC even stated that.
    • aml183 9y ago
      Where did it say that?