Ian Kitts, Ripple and Terraform: Two Extreme Solutions to the Howey Problem in Secondary Market Transactions -- Dartmouth Law Journal (forthcoming)

Pepperdine Caruso Law rising third-year student Ian Kitts's article, Ripple and Terraform: Two Extreme Solutions to the Howey Problem in Secondary Market Transactions, will be published in the Dartmouth Law Journal, Volume 23, Issue 1. The article reviews the history of federal securities regulation—specifically the Howey test which helps define what an investment contract is for the purposes of securities regulation set forth in the Securities Act of 1933—and how the test’s plain language is ill-equipped to regulate cryptocurrency assets sold on secondary markets.

The Pepperdine Law Review congratulates Kitts on his accomplishment.