SEC won’t change Howey Test (or more specifically, its application) for Cryptocurrencies

There’s been much ado about the SEC Chairman Clayton’s acknowledgement that Bitcoin is not a security.  Much more interesting, however, is the declaration that traditional approaches/views won’t be changed just because crypto comprises a new asset class.  “We are not going to do any violence to the traditional definition of security that has worked for a long time,” SEC Chairman Jay Clayton told CNBC Wednesday.  The story is here.