Huh? So USD is a security now? And so is every other currency in existence?
Also the value of the USD changes relative to other currencies all the time. There was a time where you needed 2 USD to get 1 British pound, but right now it's 1.25 british pounds for a dollar (i.e. the USD has increased in value compared to the british pound). There are people that make serious money just from trading between foreign currencies at the right time.
How can one sell a Money Market Account for more than they bought one for? The USD isn't generating a yield the Money Market Account is.
> There are people that make serious money just from trading between foreign currencies at the right time.
And if you advertise the GBP as a way for people to invest their USD on the premise that they can sell the GBP for more USD in the end I bet the SEC will not look fondly on you. There are also people that made bank on the stock market; doesn't make it not a security.
The problem with crypto was that non-crypto people got into it. It's all fun and games when you use crypto to pay for things like a currency but the second people start hodling because they speculate its value will increase it becomes a security.
While true it would be best if the SEC enforced rules the second they were broken, when have you seen a government agency act fast? It took a literal collapse of FTX for the SEC to get involved.