Some crypto lawyers telling the reality of Gary Goosehandler and the SEC.
the thread has some gems.
misrepresentation is a euphemism for a lie.
this whole thread also interesting.
The SEC has tried in previous years to weaken the Howey Test.
This is also how agencies bend the laws by getting judges to set precedents using words that are not in the written laws at all.
And finally, an article: The Future of DeFi Rests on the Word “Solely”
looks like 2 things.
stablecoins as securities and the collateral of wrapped tokens.