Few years back, 64 notable tokens including $XYO were considered securities by the SEC as part of the insider trading case at Coinbase (XY Labs has filed with SECcompliantly since it was founded (and has only sold $XYO to U.S. accredited investors under Reg D and overseas investors, so it became the first (if not the only) token that got out of the case clean and the first U.S. blockchain company to tokenize its shares and be listed on regulated exchanges.