Quote from: Come-from-Beyond on March 16, 2016, 10:35:19 PM

Quote from: TPTB_need_war on March 16, 2016, 08:07:37 PM

Afaik, you sold a token which can be resold by investors. The Supreme Court has said about the Howey test, that it would look past all attempts to obfuscate a security.

Software is not an investment, rather it is purchased for a use case. The Howey test looks at what the expectations were of those purchasing.

Your lawyers are ignorant apparently.

Could you comment on http://curia.europa.eu/jcms/upload/docs/application/pdf/2012-07/cp120094en.pdf, please?

Software is not a fungible money. Software is not purchased for expectations of gains.

Your logic is that buying a bicycle is not an investment security even though it can be resold. Then nothing is an investment security by your test. Rather the Howey test looks at the relevant economic facts and ignores any such attempt at obfuscation.

Are attorneys in Europe really this dumb Huh