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Something can both pass the Howey test and be considered a security by the SEC, but simultaneously fail to be a security in court.
by simple-thoughts 4y ago
Something can both pass the Howey test and be considered a security by the SEC, but simultaneously fail to be a security in court.
- Godel_unicode 4y agoBy not passing the Howey test. Which they don’t, according to the only people whose opinion matters. The SEC doesn’t get a vote.
- simple-thoughts 4y agoYes, so the SEC guidance is irrelevant, and is just fear mongering to get people to pay fines they don’t actually need to pay.
- Godel_unicode 4y agoThat is correct.