When your fraud moves against you, you can just restrict buying or selling or all trading until you're solvent again. All good. No biggy.
1 guy at FTX went to jail, I hope (for the future of the US) that there are many to follow.
The issue is that the SEC isn't doing that. They are simply saying that crypto is bad and we aren't going to do anything about it other than try to ban it. Don't forget that Gensler met personally with that "1 guy at FTX", multiple times.
The same congress whose dysfunction and craven corruption is such that they cannot agree to borrow money to fund the budget they approved in law.
Afaik bitcoin doesn't have anything like that.
Fortunately laws are interpreted and reinterpreted constantly to address this obvious, perennial technique of hucksters and conmen.
Look, we found a grey area again.
Isn't that every security? You hope that the companies in which take an equity stake does will, but who is promising (guaranteeing?) such a thing. That's why investors ask for returns: they are risking their money and want to be rewarded. The riskier the investment, generally the more reward is asked for.
And as a technicality: in the US, per the Commodity Exchange Act, cryptocurrencies (e.g., Bitcoin) are commodities (like oil, wheat, frozen concentrated orange juice, etc):
* https://www.cftc.gov/sites/default/files/2019-12/oceo_bitcoi...
* https://en.wikipedia.org/wiki/Commodity_Exchange_Act
Do you expect profits, dividends, etc on eggs, potatoes, onions, cheese, wheat, corn, soybeans, lean hogs, gold, silver, aluminium, iron?
* https://en.wikipedia.org/wiki/Chicago_Mercantile_Exchange
* https://www.cmegroup.com/markets.html
You buy on one price and sell on another, and there are futures and derivative markets as well. Soybeans have no dividends.
ETH generates yield for holders who stake it. It is also deflationary.