Sure, regulate them as securities, but the problem is the SEC has made it nearly impossible to actually register a cryptocurrency as a security.

https://policy.paradigm.xyz/writing/secs-path-to-registratio...

Seriously. Crypto people might be some of the most dense idiots. It is not the job of the SEC to provide guidance on how to fill out the forms. Your lawyers can easily do this. There are lots of costs associated with offering financial services, especially lawyer fees.

The real issue is that to legally do it, someone has to put their name on it, and that's not something many want to do for their pump and dump scheme.

Doesn't seem that way to me. all you need to do is to file an S-1. The issue is an entirely different one which is obvious when you look at the case studies in the second post.

>"Paragon Coin Inc. (“Paragon”) was a Delaware company that raised $12 million from their 2017 ICO of “PRG Tokens” as part of a scheme to integrate blockchain technology to the cannabis industry."

The "PRG Token" is just a share in the company. This is a security you should only be able to buy on a registered exchange. The business obviously failed beacuse blockchain in the cannabis industry is utterly useless, the company went broke, and the actual plan off selling their worthless tokens on a random internet platform didn't work out. So the SEC literally just did its job.

It’s trivial to register as a security it’s done countless times a year.

The problem is that securities trading is regulated, and the coin base model of playing multiple roles itself is illegal

What about the investment of record labels in Music contracts with musicians?

If we are to look at the postulates of the Howey test it would probably pass them. I don't see them Trying to force record labels to register with the SEC.

Because they are not passing those investments to retail? Everyone involved is either (1) accredited investor (2) involved in the running of the business.

The contracts themselves are not traded directly. If they were they’d obviously be a security.

Large record labels do of course have stock in their companies which is a security and is traded.

You can buy shares in music royalties.[1] Those are investments registered with the SEC, and the issuer is an SEC-registered broker/dealer with FINRA regulation and SIPC insurance. Your song portfolio may be a dud, but the company behind this has to account for the money they collect, and people will be held responsible if it goes missing.

[1] https://www.songvest.com/how-it-works

The page literally says they aren’t registered. The copy is made to look like they are.

No, they registered their offering. Here are all the documents filed with the SEC.[1] There's a prospectus, and annual reports.

[1] https://www.sec.gov/edgar/search/#/q=SONGVEST

Filing stuff on EDGAR isn't registration under the Securities Act.

>because there's no need to do that

There is actually alot of need. The propositions that Crypto caters for would become worthless if we applied securities laws to them.

I think having broad disclosure about a thing you’re trying to collect money so that you can make more money is a good thing, even in crypto.