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John E. Deaton, The SEC’s Baseless Utility Argument Lacks Utility


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Under the Howey Test, an investment contract exists if there is an "investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others."

I had a thought, so if the SEC win and XRP is classed as a security under the Howey Test, then does that mean we are entitled to some profit sharing when Ripple does well?

Also, who do we complain to if we don't get paid out?


Edited by HAL1000
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