"Bitcoin may be an item of value by one or more people" really?? This article pretends that the sole purpose of bitcoin isn't to store value. And the day that people begin using runescape cash/microsoft points to exchange securities I'm sure that SEC will be on their ass too.
You should look at Eve online then - there have been securities issued there for years in their currency ISK. Or second-life for that matter. Not seen the SEC making a fuss about either. And both of those can be traded for USD (very openly in the case of second-life currency).
The fact that something CAN be used as money/currency isn't sufficient for it to be legally considered as BEING money or currency. That's what you're missing. It doesn't matter what your intention, my intention, Satoshi's intention or MPOE-PR's intention is when we hold/buy/sell/trade BTC. What matters is how your jurisdiction defines BTC. In the US that's now tending towards it being treated as being money/currency - in at least some situations. In other jurisdictions (e.g. the UK) at present it is NOT considered as being a currency or money and we have none of the regulatory limitations that the US are attempting to impose (though, of course, that's always subject to change).
Same worn-out arguments. "How cum they don't regulate gamez, huh?"
For the same reason they don't charge children playing cops & robbers with impersonating an officer -- 'coz they're smart that way.
But if enough dope gets bought with ISK, and if EVE players start acting up like naughty little revolutionaries, they'll get slapped too.
Now behave.