In the regulatory light, whether the token passes the Howey test of securities is important. If the token is not being issued as a security, it is important that it fulfills an important function within the platform to justify its existence.
If the token is not being issued as a security, it is important that it fulfills an important function.
![Sam Monac avatar](https://static.intercomassets.com/avatars/3467510/square_128/Profile_Picture-1568150454.jpg)
Written by Sam Monac
Updated over a week ago