If that were the case, it’d open up the possibility of treating collectables like Beanie Babies as securities, Coinbase lawyer William Savitt noted, in an echo of Judge Failla’s broader concerns about over-regulating commodities. Savitt added that, unlike stocks or bonds, crypto tokens don’t necessarily grant holders rights over a network.
Coinbase vs. the SEC Debates the Difference Between Beanie Babies and Securities
