Is Cardano Next on SEC’s Radar? Here is Why ADA is a Security, According to the SECIs Cardano in the face of any of its entities next under the SEC’s radar? The Commission has claimed that ADA is a security.
The Howey Test’s core principle on the matter can be boiled down to the following sentence, according to SECLaw: It appears that the SEC fully believes that ADA fulfills the definitions of security. The problem with that, according to many, including Coinbase, is that the SEC relies on a test created almost 60 years ago and fails to reflect modern considerations and emerging assets.
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