They didn't regulate the crypto industry. They told everyone to stop and then refused to provide regulations or guidance on acceptable behavior despite continual begging by coinbase et al. to be allowed to cooperate.
I never said that it should be unregulated, just that the sanction applied to BUSD had a political motive. Of course stablecoins are not securities, just like a 20$ note isn't a security.
They didn't regulate the crypto industry. They told everyone to stop and then refused to provide regulations or guidance on acceptable behavior despite continual begging by coinbase et al. to be allowed to cooperate.
I never said that it should be unregulated, just that the sanction applied to BUSD had a political motive. Of course stablecoins are not securities, just like a 20$ note isn't a security.
The analogy to cash feels a bit strained. There's a difference in backing, don't you think?
I was referring to the Howey test, that is used to determine if an asset is a security: https://www.findlaw.com/consumer/securities-law/what-is-the-...