You can see SEC's policy and how they see crypto market and what sort of regulation would be applied to protect investors and be aligned with current law.
Most tokens are securities
- SEC thinks most of tokens are securities, maybe except a few dominant market share token(s), BTC.
Why? Promoters are maketing and the investing public is buying most of these tokens. Investors deserve to be protected.
Bitcoin, Digital Gold
- Gary Gensler commented that Bitcoin is referred to by some as "Digital gold".
Stablecoins is securities
- Stablecoins mintain value, so it may be securities and under the relavant law.
Token offering platforms should be under SEC
- Lending platforms, any token offering platforms and exchanges should be close to SEC and talk about any thing about its service with SEC and try to align with relevant laws.
Source: SEC.GOV, JK