Howey Test

SoluTech to Burn its Tokens Under Terms of SEC Settlement; Co-Founder Fined

SoluTech, which violated securities laws and misrepresented its revenue during the token sale, now must destroy all its tokens.

News  ·  25 September 2020

California Assembly Considers Exempting Some Digital Assets From State Securities Law

A key lawmaker in the California Assembly has proposed exempting some digital assets from the state’s definition of corporate securities.

News  ·  8 May 2020

Telegram Ruling Closes Another Door to Legally Compliant Token Sales

A recent ruling stopping Telegram from distributing its cryptocurrency creates new legal peril for public blockchains, argues lawyer Josh Lawler.

Policy & regulation  ·  29 March 2020

SEC Blasts Kik’s ‘Void for Vagueness’ Defense of 2017 ICO

Kik wants to depose top SEC officials, and expose that they were making it up as they went. But the SEC is having none of it.

Policy & regulation  ·  29 October 2019

Howey Schmowey – The Real Answer is to Update Securities Regulations

The SEC should focus more on fraud prevention than if an asset is a security, as fraud can be committed with securities too, argues David Weisberger.

Policy & regulation  ·  23 June 2019

The Gentrification of ICOs Is Underway

The ICO neighborhood, so to speak, is cleaning up, though University of Dublin's Paul Ennis suggests this may not exactly be a future to fear.

Policy & regulation  ·  19 November 2017

The Simplest Way to Understand Why The DAO Was a Security

When is a token a security? It may not be so hard to understand, should users keep this decades-old allegorical tale in mind.

Policy & regulation  ·  31 July 2017