"The Security Exchange Commission (SEC)in the United States went a step further by defining tokens as securities because they represent value."
so I just did some research on this topic and I would like to point out where you may be wrong. This is not legal or fiancial advice. Here is a page quoting the SEC.
https://www.coindesk.com/sec-official-ether-is-not-a-security/ Note the statement: "While a token in and of itself may not be a security, the purchaser's expectation during a sale will determine its classification, he said. If a purchaser has a reasonable expectation of profit based on the seller's actions, the token is likely a security."
Also "To conclude, the main difference between coins and tokens is, the former is a method of trade whilst the latter is a representation of an asset or any form of value."
So a gift card, or a cashier's check is a security?