Howey Test
German: Howey-Test
The US test from SEC v. W. J. Howey Co. (1946) for an investment contract, applied to token offerings; its application to secondary trading of tokens remains contested.
Why people look this up
Readers assessing US exposure of a token offering and the difference from the EU classification.
Auf Deutsch
Howey-Test — Der US-Test aus SEC v. W. J. Howey Co. (1946) für das Vorliegen eines Investment Contract, angewandt auf Token-Angebote; seine Übertragung auf den Sekundärhandel bleibt umstritten.
Related terms
Looking for how this maps to its traditional-finance counterpart rather than a standalone definition? See the Term Bridge, which also flags where the obvious analogy is wrong.