BINANCE:BTCUSDT.P   Bitcoin / TetherUS PERPETUAL CONTRACT
Because it is not a company and nobody owns it that can enforce any kind of intellectual property on the millions of coin derivatives that exist today.
Because it is not trust free since you must eventually report your "trust-less" transaction to a tax authority.
It is not trust-less, but a trust-less version may be created and operated by tax authorities to reduce the tax and compliance burden in the public and private sectors.
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