Duke University scholar: WLFI may constitute unregistered securities
2026-05-08 22:34
Odaily Planet Daily News Lee Reiners, a lecturer at Duke University School of Law, stated that the governance token WLFI of World Liberty Financial, associated with the Trump family, may constitute unregistered securities.
He pointed out that although the project team defines WLFI as a governance token, from the perspective of its issuance method, marketing, and investors' profit expectations, it may meet the "Howey Test" criteria used by the US SEC to determine securities.
Furthermore, conducting a large-scale presale of WLFI before the protocol's launch and promoting it using the Trump brand is also seen as strengthening its "investment nature."
추천 기사
