Once again the SEC is at the center of what is described as a 'parallel universe' as far as the way it treats different segments of the crypto world.
Why a regulatory body is making laws (the job of parliament) rather than just fairly apply any old laws is beyond comprehension.
At some point the law makers with have to talk with the crypto experts & come up with a rule book that applies across the board.
Time will tell
https://sludgefeed.com/vaneck-director-calls-out-sec-after-recent-coinbase-listing/