[AzzieElbab]

Can you explain what those rules are wrt crypto?

[ImPostingOnHN]

in order to learn more about them, the term to look for is "securities law"

I assume you aren't asking that person to "explain" all of securities law in a HN comment

[AzzieElbab]

But SEC refused to categorize crypto as securities

[ImPostingOnHN]

I'm sorry, I'm not familiar with the history, did they explicitly say that crypto were not securities?

explicitly saying they are is not necessary for them to be.