Just a clarification, because I think these kind of vague notions are exactly the problem with the "crypto" scam industry.

On CMC there are currently 1.8M+ "cryptocurrencies" listed, and out of all of those I can count the number that are NOT securities on half a hand. Like maybe with 3 fingers max.

It's such a disparity that it's not even worth debating.

So...yeah. That.