Consider it confirmed: the Howey test is definitely the US Securities and Exchange Commission’s (SECs) gold standard benchmark for deciding whether a cryptocurrency is in fact, a security. “Security” is a term used for describing certain financial assets that can be traded. It can refer to any form of financial instrument, even cryptocurrencies and associated tokens. Chairman Jay Clayton finally responded to calls to clarify how the SEC approaches classifying cryptocurrencies as securities. A set of political representatives formally submitted concerns a few months back, which were supported by digital asset think-tank Coin Center. His reply outlines the SECs stance clearly:…

This story continues at The Next Web