In the US? It doesn't at all. The SEC chair's opinion on if something is a community vs. a security has no bearing on what the IRS thinks. The distinction only really matters when deciding which agency is responsible for enforcing any regulations.

As far as the IRS is concerned they treat them the same for capital gains.

I think it would fall under capital gains either way, so shouldn't matter much. Not a tax lawyer though.

I only think it only affects who can buy it. Example gold is a commodity and anyone can buy it. And unregulated security would require accredited investors.