The SEC distinguishes Bitcoin from other cryptocurrencies and considers it to be a decentralized digital cash, exempting it from the classification of "security" that applies to many other tokens.

Bitcoin, due to its decentralized nature, market cap, and lack of involvement by its founder, does not fit the criteria of a security according to them.

Strap in boys and girls. Space shuttle launch in T-minus 10 and counting...

Source: https://www.forbes.com/sites/martinrivers/2023/07/31/bitcoin-is-not-crypto-the-sec-confirms/