"It's important,unofficial comments by Commissioner Pierce, not a statement of agency policy. proposal continues; rather broken highly subjective "if it's decentralized, it's not a security"
These; (my own extension of the classic money functions):
Means of payment: It must be a legally recognized means of payment that is accepted everywhere and does not incur any payment costs.
Store of value: money must retain its value as best as possible. We have known for a long time,fiat money without a quantity restriction (you can print) is inflationary, loses value per year.
DoJ report
lists eight separate U.S. reg bodies each with a different view:
crypto is property,
crypto is a commodity,
crypto is a virtual currency,
crypto is a security, etc.
little help
Boston, Mass., Feb 17, 2023 / 15:15 pmhttps://www.catholicnewsagency.com/news/253679/us-bishops-fbi-document-targeting-catholics-is-religious-profiling