https://www.msnbc.com/opinion/msnbc-opinion/crypto-giants-binance-coinbase-rough-week-rcna87939
Crypto has their answer — and it’s not one that they’re going to like. That has been a major question mark, one that has left the industry begging for clarity from the SEC and Congress about how the government views the “tokens” trade, which has produced billions in transaction fees for these major markets. At the heart of the lawsuits — and the crypto industry’s pushback — is an unanswered question: “Is a token a security or a commodity?” The former includes “investment contracts” like stocks and bonds, in which someone invests money in a venture and expects to see profits as a result.