A Ravencoin community member and U.S. lawyer reviews whether or not RVN is a security under U.S. securities laws.
Ravencoin is a community-based protocol consisting of code and users. No person or entity controls, promotes or marketed it in a capital-raising exercise. It was created without any fundraising, pre-mine or ICO. RVN purchasers do not invest in an enterprise; they acquire RVN so they, or someone else in the future, can use it. It is a direct fork of the Bitcoin codebase and is modeled after Bitcoin, which SEC representatives have made clear does not meet the Howey test. RVN bears none of the hallmarks of a security.”
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