Securities Act of 1933 — registration requirement (§5 / 15 U.S.C. §77e) and definition of 'security' (§2(a)(1) / 15 U.S.C. §77b)
The federal securities-law backbone behind every crypto securities case (Howey, Ripple, Coinbase, Telegram, LBRY, Terraform): §5 makes it unlawful to offer or sell a security without a registration statement in effect (absent an exemption), and §2(a)(1) defines 'security' to include an 'investment contract' — the Howey hook for digital assets.
Verbatim regulatory text
Verbatim provisions from Securities Act of 1933 — registration requirement (§5 / 15 U.S.C. §77e) and definition of 'security' (§2(a)(1) / 15 U.S.C. §77b) — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
15 U.S.C. §77e(a)
Unless a registration statement is in effect as to a security, it shall be unlawful for any person, directly or indirectly— (1) to make use of any means or instruments of transportation or communication in interstate commerce or of the mails to sell such security through the use or medium of any prospectus or otherwise; or (2) to carry or cause to be carried through the mails or in interstate commerce , by any means or instruments of transportation, any such security for the purpose of sale or for delivery after sale.
15 U.S.C. §77b(a)(1)
The term “ security ” means any note, stock, treasury stock, security future , security-based swap , bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral- trust certificate, preorganization certificate or subscription, transferable share, investment contract