Tokens that do not pass the #Howey test are considered utility tokens that provide investors with #access to a future product or service or can be redeemed for discounted fees.

The #Howey test is a legal test used in the United States to determine whether a #transaction qualifies as an investment contract and, thus, is considered a security under federal law.

What are the #Howey test and its implications for #cryptocurrency?

But how on earth is a #stablecoin considered a security, when it clearly doesn’t meet the #Howey Test criteria.

But how on earth is a #stablecoin considered a security, when it clearly doesn’t meet the #Howey Test criteria.

But how on earth is a #stablecoin considered a security, when it clearly doesn’t meet the #Howey Test criteria.