Recent SEC guidance on digital assets cleared a path for at least certain stable coins or payment tokens to avoid securities regulation. However, Latham & Watkins attorneys say there are still a number of open questions that should be addressed.
In a welcome step toward clarity, the Securities and Exchange Commission issued guidance in April on the application of the “Howey test” to digital assets (also known as tokens).
Originally published by Bloomberg Law - August 21, 2019.
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