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Token Classifier (Howey Test)
Apply the four-prong Howey Test interactively. Adjust each prong from 1 (absent) to 10 (strong). Result updates in real-time.
Did investors contribute money or value expecting returns?
Are investor fortunes tied to the issuer or other investors?
Did purchasers expect capital appreciation or returns?
Are expected profits from efforts of a third party (the issuer)?
Securities Probability
50%
UNCERTAIN
Investment of Money50%
Common Enterprise50%
Expectation of Profits50%
Efforts of Others50%
Uncertain classification. Fact-specific legal analysis required. The SEC has challenged tokens in this range.
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