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/Those who are members of the SEC consist of people with above average abilities who can distinguish the good from the best.
I am happy that the SEC can differentiate between Bitcoin and crypto. I'm also happy because the author of the article can explain to the reader the meaning of Bitcoin not crypto at the beginning.
From what I've read, the thousands of cryptocurrencies available on the market are those who want to develop their own system. Their thinking as the owner of thousands of cryptos cannot profit personally if they continue to be one idea with the basic idea of Bitcoin.