Standard DAO
Published in

Standard DAO

Digital Assets as Securities or Commodities? A Closer Look

By Rahul Guha and Jacob SantaMaria

The Howey Test

  1. An investment of money
  2. In a common enterprise
  3. With the expectation of profit
  4. To be derived from the efforts of others

The Howey Test and Crypto

Crypto & The SEC — Why it Matters

Does Crypto Really Pass the Howey Test?

Now let’s consider a few other cryptocurrency categories:

So can we reform Howey to exclude Crypto?

  • New Subclass
  • Token Taxonomy Act

What To Expect?

How Do Other Countries Treat Crypto?

The Bottom Line:

About Standard DAO



We help Investors, Creators, Communities, and Companies unlock value by supercharging, scaling, and securing the 3rd generation of the internet (Web3).

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store