When Does a Token Stop Being a Security? The Howey Test Evolution in 2026
Learn how the Howey test applies to crypto in 2026, when tokens may graduate from securities, and actionable steps for founders and counsel navigating SEC guidance.
Learn how the Howey test applies to crypto in 2026, when tokens may graduate from securities, and actionable steps for founders and counsel navigating SEC guidance.
The CLARITY Act passed the House and awaits Senate action. Here’s what’s in the crypto market structure bill, what may change, and how to prepare now.
The SEC Crypto Task Force has reshaped enforcement priorities in 2026. Here’s where enforcement is still aggressive, where it has pulled back, and what token projects should do now.
Senator Tillis pushes Senate Banking Committee to advance the CLARITY Act — the crypto market structure bill that would define SEC vs. CFTC jurisdiction over digital assets in 2026.
Senate Banking Committee advances revised CLARITY Act toward markup, reshaping SEC/CFTC crypto jurisdiction and adding ethics provisions for bipartisan support.
Fairshake’s 2026 primary wins and $2M Florida loss, explained through the federal campaign finance rules that actually bind US crypto companies.
CFTC Chair Selig says the agency will write crypto market structure rules if CLARITY fails. What CEA authority it actually has — and where it stops.
AI utility does not shield a token from the Howey test — in most architectures, it strengthens the SEC’s case on the fourth prong. This analysis breaks down how compute marketplaces, model incentive networks, and agent-service tokens fare under US securities law, why marketing records decide these cases, and how MiCA and EU AI Act disclosure duties stack on top for US issuers.
SEC crypto enforcement dropped 27% in 2025 under Chairman Atkins. Learn what changed, what the law still requires, and what companies should do now.
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