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>The important difference being that Pokemon cards don't meet the Howey test: https://www.investopedia.com/terms/h/howey-test.asp https://www.investopedia.com/t
by jjulius 3y ago
>The important difference being that Pokemon cards don't meet the Howey test: https://www.investopedia.com/terms/h/howey-test.asp https://www.investopedia.com/terms/h/howey-test.asp
... Pokemon cards were only used as an example to explain what happened, almost like an ELI5. Whether they'd pass they Howey Test or not is irrelevant.
- wpietri 3y agoIt's not irrelevant. It's a bad example because it creates an intuition that what was done was something very different than what was actually done.
- timy2shoes 3y ago> Whether they'd pass they Howey Test or not is irrelevant. Not if you're the SEC enforcing securities laws, which only apply if they pass the Howey test.