It exists under a common enterprise because there is what is called “horizontal commonality” present in SHIB investing. Of course, Shiba Inu is obviously an investment of money, passing the first prong of the test. And as the largest meme coin in the world by market capitalization, it will have a big target on its back. While SHIB has a strong backing of dedicated holders, it’s a token that very well could pass the Howey Test. Shiba Inu holders aren’t going to be happy if the SEC rules that Coinbase listed unregistered securities. However, these assets have a much higher likelihood of passing than others. Of course, it’s worth mentioning here that almost no cryptos have actually been put through the test in court this list is speculative. If you’re looking for cryptos to sell in the wake of this news, look to coins and tokens likely to pass the Howey Test.
It determines whether or not an instrument qualifies as a security. The Howey Test comes from the 1946 Supreme Court case SEC v. But how will it decide? Likely, through the Howey Test. It’s also going to enable the SEC to go after any other crypto that is structured similarly. If the SEC does rule that these cryptos are securities, it’s likely to hugely affect their prices. Coinbase itself asserts that it only lists commodities, not securities, and thus could not have conducted an illegal securities offering. This new investigation by the SEC tackles whether or not Coinbase conducted illegal securities offerings with the listing of several different coins and tokens. As the market descends into another period of uncertainty, which assets are the cryptos to sell? The news is already rocking COIN stock while also causing turmoil for cryptocurrency prices themselves. It is almost certain to set a regulatory precedent regarding whether cryptos are commodities or securities. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.The Securities and Exchange Commission’s (SEC) new probe into Coinbase (NASDAQ: COIN) is going to have broad-reaching effects on an industry.
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