The Kin Foundation launched a fundraising campaign to challenge the SEC, requiring a new Howie test on cryptocurrencies

According to AMBCrypto, Morgan Stan Digital Capital co-founder Anthony Pompliano recently announced that the US Securities and Exchange Commission (SEC) will set a dangerous precedent for the restrictions imposed on the encryption field, stifling innovation. The Kin Foundation is launching a campaign to require a new Howey Test on cryptocurrencies to better regulate the encryption field. The Foundation has now set aside $5 million with Coinbase for the campaign to take legal action and appeal to others to contribute to the fund, which has raised $259,500.