SEC covers securities which are defined in the US as meeting all four properties of the Howey test. Bancor has a stable coin framework which means they create c

SEC covers securities which are defined in the US as meeting all four properties of the Howey test. Bancor has a stable coin framework which means they create currencies and have an automated market making algorithm. Currencies are classed as commodities in the US. The people downvoting my comments without volunteering a counterargument could probably use some time doing a bit of reading on the topic.