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Securities lawyers say the SEC may struggle to win a lawsuit over stablecoins, such as Paxos' BUSD, because owners do not expect profits, part of the Howey test (Dave Michaels/Wall Street Journal)
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Dave Michaels / Wall Street Journal:
Securities lawyers say the SEC may struggle to win a lawsuit over stablecoins, such as Paxos’ BUSD, because owners do not expect profits, part of the Howey test — Agency investigates whether the cryptocurrencies’ issuance violated investor-protection laws — Washington’s battle to rein in crypto has a new front: stablecoins.
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