Whether a token is a security is decided by the deal you describe to buyers, not the label on it. The March 2026 SEC/CFTC joint interpretation puts marketing at the centre of the Howey analysis.
No crypto-specific US marketing rulebook exists. The constraint is Howey: marketing that builds an expectation of profit from the managerial efforts of others turns a token into an investment contract.
The Howey prongs, the exact language that creates a profit expectation, and how to launch without implying a security.
Digital commodity, collectible, tool, stablecoin, digital security — a say-this-not-that marketing guide per bucket.
Paste any token marketing copy or URL. Verdict on the marketing-as-security risk in seconds.
A signed audit across the SEC marketing-angle, MiCA, and FCA. Five business days.
The EU mirror — return promises and unbalanced claims fail there too.
Paste a URL or your copy — the full verdict lands in seconds. Free, no signup.