Well, it's easy to follow the law. Just be conservative and treat Ethereum like an unregistered security. Ie, don't offer it for sale to the public.

That certainly isn't a good outcome for Coinbase, though, so I can see why the crypto companies wish the SEC had a different suggestion.

Laws the CEO doesn’t like are “unclear”. He doesn’t like any laws because they are intended to thwart grifters like him. So all regulation is unclear.