They are not claiming regulating authority over a currency. They are not saying it can't be exchanged or that they control its production. They are saying you c

They are not claiming regulating authority over a currency. They are not saying it can't be exchanged or that they control its production. They are saying you can't say "It's Bitcoin, so I didn't cheat anyone out of anything." You can't defraud someone in any currency in the US. Or launder money or perform illegal activities. I can't mug a tourist and take the money out of their wallet and then claim that because I didn't steal any US currency I'm not a thief.