Fox Trading gets an independent legal opinion about FOXT token
As we announced in the last newsletter, our startup project was analyzed by international third-party lawyers (Albrecht & Vitte) to certificate FOXT token nature, this is an important matter because certain countries, such US or China, restrict the token sale depending on its nature.
To do so, they have been studying if FOXT token meets the Howey Test, which is a test created by the US Supreme Court to determine whether certain transactions qualify as “investment contracts”.
After analyzing our startup project, the lawyers have concluded:
“To conclude, since not all the elements of the Howey Test are met, in our opinion, FOXT Token may not be considered as a security instrument.”
We invite you to read the full article here.
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