Securities lawyers say the SEC may struggle to win a lawsuit over stablecoins, such as Paxos' BUSD, because owners do not expect profits, part of the Howey test
Agency investigates whether the cryptocurrencies' issuance violated investor-protection laws — Washington's battle to rein in crypto has a new front: stablecoins.
A lawsuit over stablecoins might not be easy for the SEC to winbecause stablecoin users don't expect profits from owning the tokens. That motivation is one of the crucial prongs of a 1946 Supreme Court test, known as Howey https://www.wsj.com/...
The SEC's crypto-regulatory carpet bombing continues. Next up: stablecoins, which threaten financial stability, facilitate crime and raise perilous investor protection issues. The SEC has brought 130+ crypto-related cases and has never lost. Do the math. https://www.wsj.com/...