Educational Byte: The Howey Test’s Role in Crypto and Securities Rules
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Show Notes
This story was originally published on HackerNoon at: https://hackernoon.com/educational-byte-the-howey-tests-role-in-crypto-and-securities-rules.
Strange but true that a citrus-grove dispute now influences crypto and securities rules. Let's see what the Howey Test is and how to face it.
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The Howey Test is a 1946 U.S. Supreme Court decision that defines investment contracts as securities. When people contribute money to a shared project and expect profits from someone else’s effort, the setup should be treated as a security. In July 2017, the US Securities and Exchange Commission said the DAO tokens were securities.