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UNCHAINED: The SEC Thinks Crypto Airdrops Are Securities. Here's Why This Lawyer Thinks It's Wrong

CoinDesk Podcast Network

CHAPTER

SEC's Stance on Crypto Airdrops

This chapter explores the SEC's interpretation of the Howey test as it pertains to cryptocurrency airdrops, positing that promotional activities for free tokens may constitute an investment of money. The speakers critique this perspective, highlighting an ongoing lawsuit contesting the SEC's classification of airdrops as securities, specifically discussing Beba's token airdrop as a product discount rather than a security. The chapter further examines the complexities of U.S. regulations on crypto airdrops, the implications for projects operating in this space, and the broader debate regarding the future of crypto regulation.

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