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The 1933 Law Behind the SEC's Crypto Strategy - WSJBitcoin is not considered a security because its anonymous and open-source origins mean investor profits are not dependent on the efforts of. The U.S. Securities and Exchange Commission's lawsuits against cryptocurrency exchanges Binance and Coinbase follow a year of price. The Securities and Exchange Commission today charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered.