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A comment on Founder of crypto lender Celsius Network arrested, charged with fraud. Parent comment

Re:Founder of crypto lender Celsius Network arrested, charge... by jjulius on Thursday July 13, 2023 @01:49PM (#36713222)
>The important difference being that Pokemon cards don't meet the Howey test: https://www.investopedia.com/terms/h/howey-test.asp

... Pokemon cards were only used as an example to explain what happened, almost like an ELI5. Whether they'd pass they Howey Test or not is irrelevant.

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Re:Founder of crypto lender Celsius Network arrested, charge... by wpietri on Thursday July 13, 2023 @01:54PM (#36713305)
It's not irrelevant. It's a bad example because it creates an intuition that what was done was something very different than what was actually done.
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Re:Founder of crypto lender Celsius Network arrested, charge... by timy2shoes on Thursday July 13, 2023 @01:54PM (#36713319)
> Whether they'd pass they Howey Test or not is irrelevant.

Not if you're the SEC enforcing securities laws, which only apply if they pass the Howey test.

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