Token CTR is recognized as a security

[Mazda3]

A Florida District magistrate, I am sure that the CTR tokens sold during the crowdsdale by the Centra Tech project are securities and are subject to review in accordance with the current US stock legislation. As part of the lawsuit filed by the collective lawsuit of former Centra Tech investors against the founders of the startup, tokens were recognized as securities, according to the Howey test.

This is a test developed by Coinbase, Coin Center, Union Square Ventures and Consensys. This technique allows you to assign tokens to securities or deny their belonging to them under the federal law on securities regulation. In the case of block-tokens, the Howey test is based on the availability of three independent criteria:

- Presence of invested funds;

- Waiting for financial gain;

 - Full dependence of profit on the activities of others.

According to the Howey test, the CTR-token fully meets the three main criteria of the investment contract and is considered a security.

It should be noted that this judicial proceeding is in no way connected with the charges of the Securities and Exchange Commission (SEC) brought against the three organizers of the Centra Tech project, arrested two months ago.

The Federal District Court of the District of Florida examines the collective lawsuit of the project investors against the organizers of the ICO during which $ 32 million was raised. In the suit, the startup organizers are charged with fraudulent token and sale of unregistered securities, as a result of which investors lost their funds.

Interestingly, lawyer Stephen Palli, who has extensive experience in legal practice in the field of the crypto industry, noted that this judgment is not an obligatory precedent of the law of the sea, but can be used as a cited argument in judicial practice, because it is convincing and meaningful.
A source: https://www.coindesk.com/us-judge-says-boxer-backed-ico-token-is-a-security/

[Neo-rock]

It's amazing to hear Stephen palli has been taken charge as legal advisor for the company.he will take all the responsibility because he has certain experience which can play a major role in this field.we look forward for great things to happen in future