> Maybe you meant to say that it just escaped being classified as a security, but as far as I can tell it's a commodity at present. Indeed it is today consider

> Maybe you meant to say that it just escaped being classified as a security, but as far as I can tell it's a commodity at present. Indeed it is today considered a commodity. This is broadly what I was getting at, yes. I encourage you to review the Howey test however as it is the framework ordinarily used for making this determination. [1] [1] https://www.investopedia.com/terms/h/howey-test.asp https://www.investopedia.com/terms/h/howey-test.asp