Quote:
Originally Posted by ShopCat
Crypto was ruled not a security,
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Not a security when not backed by anything. Any time you add an equitable (real) asset behind the security (coin), then you're creating a securitized asset. The comments I posted from the SEC Chairman are indeed from 2017, but not much has changed in securities law in the few years since then.
A pure speculative coin backed by nothing is probably okay. One backed by a real asset (real estate, cars, gold, etc.) is probably not. Ironically, that seems backwards from what it really should be!
-Wayne