Is Crypto Security? The Howey Test and More

  1. How the SEC applies the Howey Test (for securities) & prior cases
  2. How to structure your ICO so it’s not security
  3. What you should do if your ICO constitutes security offering
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How the SEC applies the Howey Test (for securities) & prior cases

The Howey Test

1. A person invests his money

2. In a common enterprise

3. Is led to expect profits

4. From the efforts of the promoter or a third party

How to structure the ICO so it’s not security

What if your ICO constitutes security offering?

https://www.sec.gov/smallbusiness/exemptofferings/exemptofferingschart

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Poetrilosophic, surrealistic. Berkeley Law’19.

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Mel Zhou

Mel Zhou

Poetrilosophic, surrealistic. Berkeley Law’19.

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