ICAN requests the US Supreme Court to review the standard for determining investment contracts

Investor Choice Advocates Network (ICAN) and the law firm Paul Hastings, representing three sales agents, have requested that the U.S. Supreme Court review the standard for identifying investment contracts. The application aims to clarify whether a seller's pre-sale activities in asset selection, evaluation, and pricing are sufficient to classify the assets as securities. ICAN noted that there are divergences among different federal circuit courts on this issue, which involves the application of securities laws to digital assets, artworks, and precious metals. The application was made public on November 10, and the Supreme Court has not yet decided whether to accept the case.