Howey Test

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This is a type of test created by the Supreme Court in Year 1946. This was done to find out if the investment is suitable for the definition of a coin. The criteria are as follows:

1) “whether money was invested?”

2) “whether money was invested?”

3) “whether  the invested funds are pools in a common enterprise?” and

4) whether any profits made derive from efforts and operations  outside the investors control?”

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