Cryptocurrency and the SEC

The problem with the how we test is not that cryptocurrencies meet it, It's that everything meets it. Anytime anybody puts up a little money and hopes to turn into a little bit more money, suddenly this becomes a security and the appropriate regulator becomes the SEC. This is just wrong. Sports betting apps should not be regulated by the SEC. Exchanges or websites or conventions or wherever people trade trading cards should not beregulated by theSEC. And it seems to me perfectly clear that cryptocurrency is much closer to one of these things than what we know as securities,. bond stocks, whatever else.