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Chairman of the SEC: A "Token Classification" will be developed based on the analysis of the Howey investment contract.

Golden Finance reports that the chairman of the SEC, Paul Atkins, stated that the agency will soon consider establishing a formal “Token Classification” based on the long-established Howey investment contract securities analysis. The Howey Test originated from a case in 1946, when people purchased an orange grove in Florida, hoping to profit from the labor of the growers. It defines a security as an investment of money in a common enterprise, with the expectation of profits to be derived from the efforts of others.

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