Dissenting opinion asserts position is wrong and that many headaches linger
a landmark case used to determine if a security can be classified as an"investment contract.", investment contracts exist"when there is the investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others." However, Peirce and Uyeda disagreed that the Howey test applies, or that NFTs even belong under SEC jurisdiction.
Along with arguing that the Howey analysis was misapplied, the dissenting commissioners asserted the decision raises questions about whether the commission"generally views previous NFT offerings as securities" or whether securities law is even the best regulatory approach for the digital collectibles.
The dissenting opinion, and the logic on which it rests, suggests the question of whether all NFTs are securities remains open. Peirce and Uyeda wish that weren’t the case.
Belgique Dernières Nouvelles, Belgique Actualités
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