What's the Difference Between a Token Drop and a Securities?

I think we're going to see so many more cases where the regulators, or or the a states attorneys general will get in. It's going to be a feeding frenzy, because there's so much money here. Like, people have made billions of dollars, and they have done it in a way that's not fully transparent. I been a lot of crazy scamps, just token drops and even like the brokage firms,. They choose to list who knew about it beforehand. What do they do? It doesn't matter that they're not securities. What matters is that people that had information took advantage of it, and they may e should not have.