FTX US will check the chances of tokens to be defined as securities as part of the listing procedure. crypto
He wrote that American regulators have already deemed some tokens, Bitcoin among them, as non-securities, he stated, a number of cryptocurrencies remain unclear in that respect.
FTX US now intends to gather its own legal team that would analyze whether a digital asset, using the Howey Test, which has been used for decades to identify whether an asset is a security or not. If the team believes that a token is a security, it will not be listed on FTX US, “unless there is a clear path for registration”, per Bankman-Fried. If the legal team says after making an analysis that a token is not a security, it will be treated as a commodity. Unless the court or the US commission on securities step in, stating otherwise.
It also says that FTX is not registered as a seller of payment tools or as a dealer of securities in the aforementioned state. These allegations were submitted to a court that is dealing with the sale of assets belong to Voyager Digital. Earlier, FTX agreed to buy those assets for $51 million.
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