If, by following the guidance of Howey test, SEC qualifies an asset to be a security, it has to comply with the requirements of securities laws

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If, by following the guidance of Howey test, SEC qualifies an asset to be a security, it has to comply with the requirements of securities laws

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The implications of the Howey test for cryptocurrency are significant, as the test provides a framework for determining whether a particular cryptocurrency offering should be classified as a security under U.S. law. If a cryptocurrency offering meets the criteria outlined in the Howey test, it may be considered a security and subject to federal securities laws.

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What are the Howey test and its implications for cryptocurrency?

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Requirements and implications of Howey test

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Securities Act of 1933 impose requirements to securities in the primary market

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Securities Exchange Act of 1934 impose requirements to securities in the secondary market

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If asset meets Howey test criteria, SEC has to determine if an asset is an investment contract

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