According to PANews, FINRA’s official website has updated a special section on crypto assets, pointing out that certain crypto assets or transactions may meet the definition of securities.
The new page introduces different types of crypto assets and how to buy and sell them, lists the associated risks, and links to resources such as the SEC, CFTC, and FTC.
FINRA emphasized that determining whether crypto assets or transactions are securities must be based on the definition of federal securities laws, and may adopt standards such as the Howey Test and the Reves Test.
