Coinbase Exchange believes that it is looking to the US Securities and Exchange Commission (SEC) to move away from the Howey Test and the question of whether it owns a digital asset that nothing can sell after it is sold. The title of the investment contract is in the United States.

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This is not good news, it complicates the situation
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The outcome of this case could have significant implications for the crypto industry. If the SEC rules that UNUS SED LEO tokens are securities, it could mean stricter regulations for other tokens and crypto exchanges.👌