Written by: Michael Handelsman and Alex Forehand for Kelman.Law
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Is Crypto a Security?
As courts, regulators, and market participants continue to wrestle with applying decades-old legal doctrines to blockchain-based assets, this series breaks down the core principles shaping the modern landscape—from the Howey test and so-called utility tokens, to secondary-market transactions, DeFi, staking, NFTs, and the shifting regulatory posture of the SEC and CFTC.
The goal is to provide a practical, legally-grounded framework for understanding how U.S. law is adapting to crypto in real time.
