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If it is or isn't, who can enforce the entire crypto world to deal with that? In this particular case though the Agoras token is a stake so I suppose someone could make a case that it's a security but I see no evidence of insider trading. Only Ohad really knows certain information and if he's not trading based on it then there is literally no one else.

Completely agree

SEC came out with some guidance in the last month or so, so now we have at least some idea. The DAO was considered to be a security while Ether was called a currency. I don't know where Agoras will fall at this point.