August 8, 2026
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1:34Now PlayingThe 1946 Howey test is used to determine whether a transaction qualifies as an "investment contract" and is therefore subject to federal securities laws. During the Liberty Pub event at PubKey DC, SEC Chairman Paul Atkins joined Thomas Pacchia and Matt Kibbe to explain how the test was previously being misapplied to cryptocurrencies.
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Free thinkers, unite. Founded in 2016 by Matt and Terry Kibbe, Free the People produces award-winning documentaries, comedies, podcasts, articles, and comics.
Our mission is to inspire a new generation to embrace personal liberty, peaceful cooperation, and limited government. Our work illuminates the people and ideas changing the world for the better through innovation and cooperation. We also tell cautionary tales about the dehumanizing nature of centralized power. Our stories connect with audiences across the partisan divide, opening new hearts and minds to solutions based on voluntary choice and mutual respect.
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