The War on Crypto
Many Happy Returns
The Four Parts of the Howie Test
There was a Supreme Court case in 1946 in the US, SEC versus W.J. Howie company dealing with tracts of Florida orange groves. And so this led to something called the Howie test, which has four parts. The first one's pretty obvious: It's an investment of money. But there are some things called utility tokens where the aim is to pay gas fees or whatever on the Ethereum network. That's not necessarily the expectation of profit.
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