The US Wants Crypto Innovation: So Why Is It Still Regulating with an Orange-Era Test? 🍊

The Howey test struggles to classify decentralized crypto networks and modern token designs. This outdated framework creates significant challenges for the evolving digital asset space. 🚧

Functional token utility should matter more than speculative trading expectations. A focus on practical use cases would provide clearer guidance for innovation. ✅

The United States financial regulatory landscape stands at a critical juncture. Recent developments include the passage of key stablecoin legislation, like the GENIUS Act in July 2025, and ongoing debates... 🗣️