News Explorer — Friend.tech Renames Its Token—But Is It Even Legal?

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Aug 22, 1:32 am

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Friend.tech Renames Its Token—But Is It Even Legal?

Friend.tech, a social token platform, has experienced a surge in popularity, attracting celebrities and raising concerns of it being a Ponzi scheme. The platform recently changed the name of its core asset from Shares to Keys, possibly to avoid scrutiny from the SEC. While the tokens on Friend.tech may not be considered securities, how they are marketed and distributed could potentially make them fall under securities regulations.

Friend.tech, a social token platform, has experienced a surge in popularity, attracting celebrities and raising concerns of it being a Ponzi scheme. The platform recently changed the name of its core asset from Shares to Keys, possibly to avoid scrutiny from the SEC. While the tokens on Friend.tech may not be considered securities, how they are marketed and distributed could potentially make them fall under securities regulations.

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