Lawyer Jake Chervinsky: Assessing whether digital assets are securities requires a highly intensive analysis of facts

On September 30th, US government law enforcement defense and securities litigation lawyer Jake Chervinsky said on Twitter that to assess whether digital assets are securities requires a highly intensive analysis of facts and a subtle qualitative analysis of many complex factors and strategic objectives. Balance, it is not an easy task to do this work with a "five points". I would like to see the Encryption Rating Board show off its work.