-This used to be true but is no longer the case since the 2012 Jobs Act.
-If it is small enough to fall under the 2012 JOBS act then no harm, no foul, just keep up on your paperwork.
You can't do that. The law was signed by Obabma it's true, but there are no rules yet that allow ANYBODY to actually crowdsource funding. The SEC has dragged their feet on the matter and the states have said nothing. Like most securities laws there are two completely different sets of rules (fed and state) and there is no state who allows crowdsourced funding... even the fed does not allow it *yet*.
Not it is not a security. That was sorta the point of FinCen saying it was cash.
That issue is up for debate at all levels. In my home state it is a commodity, per the "unofficial" position of the securities division. If somebody would pay to get the "official" position in any state I'm highly confident many would say the same.
Unofficial interpretation from an
actual regulator:
A commodity is more generally defined under the laws as "a useful thing; an article of commerce; a moveable and tangible thing produced or used as the subject of barter or sale." Bitcoins would be "tangible," because each bitcoin is constructively possessed.