$BTC The **U.S. Securities and Exchange Commission (SEC)** plays a critical role in regulating **cryptocurrencies**, including **Bitcoin ($BTC)**. Below is a breakdown of key **SEC guidance and actions** impacting BTC and the broader crypto market:

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### **1. Is Bitcoin a Security?**

- **SEC's Stance**: The SEC has **not classified Bitcoin as a security** under the **Howey Test** (unlike some altcoins like XRP, which faced lawsuits).

- **Reasoning**: Bitcoin is **decentralized**, not controlled by any single entity, and was not sold as an investment contract.