#96 - Investment Contracts & Crypto: Takeaways from 300+ Cases with DLx Law's Freeman Lewin
Law of Code
The Future of Stablecoins
The Canadian Securities Administrators have said that stablecoins are securities and base that on the evidence of indebtedness prong, which I believe you have as well in the US under the 33 Act. But if you look through the case law, there isn't one interpretation where someone was given a commodity in exchange, which could maybe look more like a derivative. There wasn't an example where somebody had purchased something for the purpose of using it rather than for thepurpose of investing without any promise of return.
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