Re:Bitcoin Is Civilization
by kosasbest on Thursday September 30, 2021 @10:33AM
(#28706807)
Bitcoin is a security, not a commodity.
[ Parent
| on HN ]
https://www.investopedia.com/terms/h/howey-test.asp
> Why Is Bitcoin Not a Security?
> In June 2018, the former Chair of the SEC, Jay Clayton, clarified that bitcoin is not a security: "Cryptocurrencies: These are replacements for sovereign currencies, replace the dollar, the euro, the yen with bitcoin. That type of currency is not a security," said Clayton.
> Bitcoin, which has never sought public funds to develop its technology, does not pass the Howey Test used by the SEC to classify securities. However, by Clayton's definition, tokens used in an ICO are securities.
Re:Bitcoin Is Civilization
by davidgerard on Thursday September 30, 2021 @11:46AM
(#28707696)
Depends on the country. Bitcoin on an exchange is a security in Canada, because you don't have the thing, they have the thing and a liability to you for it. "Not your keys" as the regulations.