Ghost Credits: Practice Currency Explained
Ghost Credits: Practice Currency Choose Your Reading Level: 📚 Academic Version 🎓 College Freshman Version 🎒 6th Grader Version 📚 Academic Version Ghost Credits as Non-Security Practice Tokens: Regulatory Design and Implementation Ghost Credits represent a carefully designed practice currency engineered to facilitate platform familiarization while maintaining clear regulatory separation from securities under SEC guidelines and state money transmission laws. Regulatory Framework The SEC’s analysis under SEC v. W.J. Howey Co. (1946) establishes the investment contract test for securities classification: ...