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> Known as the Howey test, it examines whether investors expect to earn a return from the work of third parties. Seems obvious that anything outside of a stabl
by isitmadeofglass 4y ago
> Known as the Howey test, it examines whether investors expect to earn a return from the work of third parties.
Seems obvious that anything outside of a stable coin fits this. No one ever bought Ether expecting it to fall or stay at its current value, and an argument that it used because of its usefulness as an everyday currency should get laughed out of court.
- kybernetikos 4y agoThis doesn't apply to staking validators - validators earn a payment for doing useful work by validating transactions are performed correctly. They're not expecting to benefit from the work of others.
- Proven 4y ago