Itâs not about that. Itâs about regulations. Bitcoin is not considered an investment contract. Itâs exempt from SEC securities regulations. The wrong BRC20 token could (I wonder) change that.
Discussion
No it canât, the brc20 token(or whatever they call the particular variety) itself would be the security, similar to a gold etf. The issuer would be issuing an illegal security based on a commodity. There will always be an individual who issued the
âTokenâ within the commodity that is bitcoin. Above and beyond that, the token doesnât actually exist at all without an overarching serialization methodology, and casey can literally just turn that off and someone else would have to build it back up and turn it back on again to allow the âtokensâ to even exist. There are layers to the onion and bitcoin will remain a commodity.