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Regulatory Positioning

Lazy Student is designed to comply with global regulatory frameworks, including MiCA (EU) and SEC (US).

MiCA (EU)​

Under MiCA, $LST qualifies as a utility token because:

  • It provides access to a digital service
  • It does not aim to maintain stable value
  • It does not reference external assets
  • It is not marketed as an investment

Lazy Student will comply with applicable MiCA obligations for utility tokens.

SEC (United States)​

Lazy Student is designed to avoid classification as a security under the Howey Test.

Howey Test Avoidance​

  • No investment of money into a common enterprise
  • No expectation of profit from others’ efforts
  • No private sale or investor round
  • Token value tied to utility consumption, not yield

Other Jurisdictions​

Users are responsible for understanding local laws.
Lazy Student may restrict access in jurisdictions with prohibitive regulations.