BeginnersL8ck Friday, 01/12/18 04:58:24 PM Re: None 0 Post # of 25297 Anyone familiar with paypal dispute? what do they need to enter a dispute and how? will this reasoning enough? https://www.manhattanstreetcapital.com/faq/for-fundraisers/how-determine-if-token-security-howey-test How to figure out if an ICO token is a security - the Howey Test How to determine if a token is a security The Howey Test The Supreme Court case of SEC v Howey established the test for whether an arrangement involves an investment contract. An investment contract implies that the transaction is a type of security. In the context of blockchain tokens, the Howey test can be expressed as three independent elements. 1. An investment of money 2. in a common enterprise 3. with an expectation of profits predominantly from the efforts of others. All three elements must be met in order for a token to be a security. The third element encompasses both the third and fourth prongs of the traditional Howey test.