In different jurisdictions, virtual assets are considered as shares, securities, money, goods and even services. They are all right, as the old joke goes. And the latest news forced us to express our point of view.

SEC and SFTC are units of the US government that oversee financial instruments.

And so, the SEC claims that ETH and many other cryptoassets are securities based on the fact that they pass the Howey test.

Meanwhile, the CFTC says that BTC. ETN, USDT, etc. are goods, and at the same time function as a means of exchange, settlement and storage.

The funniest thing is that the SEC controls securities, and the CFTC controls commodities (futures). Lissy, however, is a piece of the crypt, if the most experienced experts pull the blanket over themselves). And if some pundit moves from the SEC to the CFTC, will he change his position along party lines?

Let's figure it out.

Howie's test.

It should be an investment of money

With the expectation of profit

In the general enterprise

With profit received by a third party (who invested and does not participate in the work)

Example. I bought a carpet with a friend. And we handed it over to the committee with a grain of salt. Sellers sell carpets, we do not work, but expect a profit. The bottom line is that a carpet is a valuable piece of paper.

Further. Exchange, calculation and storage are the main properties of MONEY, not goods. If you imagine that I keep fifty carpets at home, is it possible, how will I pay for a bottle in a deli? After all, a carpet is a product, the specified functions of the product are rather impersonal.

Therefore, I would consider BTC closer to money, and I consider USDT almost completely money.

But ETH has many properties that money does not have... Is it classified as a security? And who is the issuer? What and whose obligations and rights does this paper certify?

No, guys, the crypt should be classified differently, no matter what the various overseers there want.

The technology of making a nuclear bomb is difficult to write down in knotty script...

For example, AGTI's offer ( https://sevlushfoods.com/our-documents (https://sevlushfoods.com/our-documents/)/ ) is made in full compliance with Ukrainian legislation and is as close as possible to European and American legislation.

The AGTI token is a digital record indicating the financial status of AgroGloryTime, certifying the owner's right to access a number of group services. I think that other crypto-assets should be classified in a similar way, having developed legal categories of the work of the virtual space and its relationship with the real one.

How we did it.