>The important difference being that Pokemon cards don't meet the Howey test: ht... | Hacker News

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		jjulius on July 13, 2023 \| parent \| context \| favorite \| on: Founder of crypto lender Celsius Network arrested,... >The important difference being that Pokemon cards don't meet the Howey test: https://www.investopedia.com/terms/h/howey-test.asp ... Pokemon cards were only used as an example to explain what happened, almost like an ELI5. Whether they'd pass they Howey Test or not is irrelevant.

wpietri on July 13, 2023 | [–]

It's not irrelevant. It's a bad example because it creates an intuition that what was done was something very different than what was actually done.

timy2shoes on July 13, 2023 | [–]

> Whether they'd pass they Howey Test or not is irrelevant.

Not if you're the SEC enforcing securities laws, which only apply if they pass the Howey test.

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