When the Securities and Exchange Commission gave its blessing to social media platform IMVU to launch VCOIN, it was a major leap forward for acceptable scope of crypto applications.
The implications for what sorts of projects the SEC considers a security are, in and of themselves, huge. But part of the appeal of VCOIN to the SEC is that, with its stable price and clear use case, IMVU has managed to demonstrate to the commission that the token is a means of making the platform a more lifelike digital world that is more fun to hang out in.