Howey’s test
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The US District Court implied that NFT may be regarded as securities
On March 7, the U.S. District Court for the Southern District of New York recently confirmed for the first time that under certain circumstances, NFT can be recognized as a security under the Securities Act of 1933. Recently, the United States District Court for the Southern District of New York ruled on a class action lawsuit against the basketball theme NFT Moments. According to Howey’s test, the court recognized the NFT as an “investment contract” and rejected the defendant’s motion of rejection. The court pointed out that the plaintiff’s claim…
