I was referring to the Howey test, that is used to determine if an asset is a security: https://www.findlaw.com/consumer/securities-law/what-is-the-howey-test.h

I was referring to the Howey test, that is used to determine if an asset is a security: https://www.findlaw.com/consumer/securities-law/what-is-the-howey-test.html https://www.findlaw.com/consumer/securities-law/what-is-the-...