However, there are countries who claimed that cryptocurrencies are legal tender and not as securities. I know there's going to be a debate about cryptocurrencies being classified as securities or not.
I do have a question for you guys though. Do they deserve to get sued for giving advice that cryptocurrencies are not securities? Or is this not necessary at all? What would be your reaction to this one guys?
It depends on the specific coin that you're talking about.
There are STOs out there that are obviously offering up security tokens as a reward for your investment. That should be classified as a security, no doubt. However, with things like BTC which do not represent a stake in any company, debt or equity, it should not be considered a security.
Obviously the issue here though is not really with the legality of bitcoin, but rather the legality of the advice given by this law firm.