The fight over crypto is boiling down to an exasperatingly fine legal
   point: whether digital coins are securities.
   When Is a Digital Token a Security, and Why Does It Matter?
   [1]https://www.bloomberg.com/news/articles/2023-06-15/when-is-a-digital
   -token-a-security-and-why-does-it-matter

References

   1. https://www.bloomberg.com/news/articles/2023-06-15/when-is-a-digital-token-a-security-and-why-does-it-matter