does anyone know:
1. how close are we from FIT21 or equivalent passing
2. if passed as written, do all ERC-20 become commodities? or only fully decentralized governance / network tokens?
3. if no, what regulation would have to change for "reputable" people in US crypto to issue tokens that include ~equity?

design @splits | /wireframe /latenightcrew /event-pass /feud

Not close but even if passes still a bunch of work to define what a commodity is wrt crypto tokens.

Commodity regulations still impose compliance costs without the benefits of being a registered security. So we’re likely going to see merit based approaches to organizational tokens being graded as securities.