New crypto regulations likely to be big favor to the Trump family, industry insiders say

[snot]

2. This actually sounds appropriate to me.

I haven't read the regulations, so there's that caveat; but whether you consider crypto a store of value or a currency or both, it does not represent an investment in a company that has profits, losses, employees, or assets or that sells goods or services. I'm not sure how you'd even apply SEC disclosure requirements to it.

Just because there's a market for crypto and its sale can be subject to or used in fraud doesn't make it a "security" any more than, say, stamps or beanie babies.

Imho, the only reason the government delayed this decision for so long was that they feared the potential of crypto to expose the weakness of the dollar – a weakness created not by crypto but by decades of governmental recklessness and Treasury & Fed shenanigans.