The SEC preps for a summer of crypto regulation (w/ David Nage)
Chain Reaction
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Is a Cryptocurrency a Security?
There's a four part test that the supreme court basically came up with to decide whether something is a security or not. So essentially, the implications of this definition means that any crypto that is acting like a substitute for fiot currency is safe. It doesn't really meet that test, so it's not classified as ascurity. That's why we haven't seen any action against bit coin or etherium itself because you're just using that to transact. But a lot of the tokens that were actually listed in the s c lawsuit, the nine tokens, they claim to do a lot more than just be a mechanisms for a transaction like fiot. They describe themselves on their web sigt as
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