“An investment contract exists when you invest money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others. Intermediaries for investment contracts, whether they’re exchanges, brokers, dealers, clearinghouses, they need to comply with the securities laws and register with the Securities and Exchange Commission,” he said. “Instead, many crypto platforms are just pretending that these investment contracts that they offer are more like goldfish,” using an analogy about pets.
Related posts
-
How Crypto Is Changing Online Gambling and Betospin Leads the Way
As online gambling is evolving, cryptocurrencies have come into... -
United Kingdom to Introduce Regulation for Crypto in 2025
Stablecoins and staking services will be covered by the... -
Bankrupt Crypto Exchange FTX Set To Begin Paying Creditors and Customers in Early 2025, Says CEO
The CEO of fallen crypto exchange FTX says the firm will begin distributing its bankruptcy payments...