It isn't clear because the regulators avoided an unpopular crackdown while crypto seemed to be booming. And now it's awkward to apply straightforward definitio

It isn't clear because the regulators avoided an unpopular crackdown while crypto seemed to be booming. And now it's awkward to apply straightforward definitions and rules, especially to things like Ethereum that have been around for a while. "Either the bank is lying or Celsius is lying", said a wise man. That was true, and also it was not complicated or unclear.