“is at times difficult for even experienced lawyers to apply, let alone market participants without legal training.”
The CDC asked the court to reiterate the difference between contracts that are securities and the subjects of those contracts, which are not securities. The cases cited include a hodgepodge of subject items, as is already customary in these discussions. Here, cases involving whiskey casks, payphones, condominiums and beavers were mentioned.
The CDC continues that the SEC is using in its case against Ripple a novel application of contract analysis of secondary transactions with assets subject to an investment contract, but has not provided guidance on how to apply that analysis. Nonetheless, the SEC still expects market participants to determine whether or not an asset is a security.
The CDC noted the lack of precedent on secondary transactions with the subjects of securities contracts but stated: “The Chamber believes that, as long as the underlying asset does not include financial interests, such as legal rights to debt or equity, digital assets are presumed to be commodities.”took the same stance“The Chamber respectfully asks that this Court draw upon the principles set forth in RFIA for guidance if it decides to clarify the characterization of digital assets, which are the subject of an investment contract or defer such a decision to the legislature.
They are carpetbaggers.
xrp bullish
Exactly. Howey is unworkable for a fast-moving and innovative web3 industry
thats an unfortunate acronym
🚀 Thnks a millon
🚀 Thnks a millon.
Woow ! 🔥 I wish I discovered this earlier...🔥🔥