He wrote that American regulators have already deemed some tokens, Bitcoin among them, as non-securities, he stated, a number of cryptocurrencies remain unclear in that respect.
FTX US now intends to gather its own legal team that would analyze whether a digital asset, using the Howey Test, which has been used for decades to identify whether an asset is a security or not. If the team believes that a token is a security, it will not be listed on FTX US, “unless there is a clear path for registration”, per Bankman-Fried. If the legal team says after making an analysis that a token is not a security, it will be treated as a commodity. Unless the court or the US commission on securities step in, stating otherwise.
It also says that FTX is not registered as a seller of payment tools or as a dealer of securities in the aforementioned state. These allegations were submitted to a court that is dealing with the sale of assets belong to Voyager Digital. Earlier, FTX agreed to buy those assets for $51 million.
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