No Crypto Can Be A Commodity

Regulators are trying to divide various cryptocurrency projects into commodities and securities. All cryptocurrencies are only digital assets recorded in the blockchain. 

From my point of view, no cryptocurrency can be a commodity, as digital assets cannot exist without a protocol. It makes no sense for BTC to be labeled as a commodity and for example, ADA to be labeled as a security. 

Permanent Dependency Of Coins On The Protocol Bitcoin is sometimes referred to as digital gold. This is to evoke the impression that it has the same characteristics as gold. Can BTC coins be a commodity in the sense in which people normally perceive commodities? 

Considering BTC as a commodity has several shortcomings. First of all, cryptocurrencies are not a physical thing like gold or coal. The c Read article: No Crypto Can Be A Commodity