vouchers are the least fiat token there is
there is a service
they don't qualify as securities by the owsley test or whatever it is
(lol, owsley is LSD)
https://www.investopedia.com/terms/h/howey-test.asp
If the asset is an "investment of money in a common enterprise, with a reasonable expectation of profits to be derived from the efforts of others" it is considered a security. It is then subject to disclosure and registration requirements under the Securities Act of 1933 and the Securities Exchange Act of 1934.
so, no, these aren't securities, they are a kind of IOU from the business, which means they are a bill of exchange, and thus a contract offer by the business proprietor, that you accept by paying for them
mleku
npub1fj…mleku
2025-03-08 19:20:32
in reply to nevent1q…4jxx
Author Public Key
npub1fjqqy4a93z5zsjwsfxqhc2764kvykfdyttvldkkkdera8dr78vhsmmlekuPublished at
2025-03-08 19:20:32Event JSON
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"kind": 1,
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"content": "vouchers are the least fiat token there is\n\nthere is a service\n\nthey don't qualify as securities by the owsley test or whatever it is \n\n(lol, owsley is LSD) \n\nhttps://www.investopedia.com/terms/h/howey-test.asp\n\nIf the asset is an \"investment of money in a common enterprise, with a reasonable expectation of profits to be derived from the efforts of others\" it is considered a security. It is then subject to disclosure and registration requirements under the Securities Act of 1933 and the Securities Exchange Act of 1934.\n\nso, no, these aren't securities, they are a kind of IOU from the business, which means they are a bill of exchange, and thus a contract offer by the business proprietor, that you accept by paying for them",
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}