You can't patent software so thanks for making my point. You can't patent math either. Crypto is math based money so now the SEC is basically trying to regulate math. Any reasoning person will see the futility in that.
Paradigm shifts require new rules. You can't regulate a car the same way you regulate a horse. But when we allow buggy whip manufacturers to influence regulators for the interest of their personal bottom line, then the public looses while the intrenched interests win.
Wrong on all counts. Software was patentable in the US. And there was a long, long time where there were a lot of patents whose only "innovation" was doing something on a computer.
"Crypto is math based money so now the SEC is basically trying to regulate math. Any reasoning person will see the futility in that."
Any reasoning person will know that what you said is not accurate in the least.
"Paradigm shifts require new rules"
This is NOT a paradigm shift. Literally you are arguing to go back to the days when software was patentable, and that "on a computer" should be all that's required to get a patent.
"You can't regulate a car the same way you regulate a horse."
No, but I can regulate what they are trying to do, which is provide transportation, the same. Likewise, these coins are not doing anything new. They are doing the exact same thing, just in a new package.
Just because something is using a blockchain does not mean it's new, or that what is happening doesn't fall under existing securities law.