CryptoLaw founder John Deaton has responded to the US SEC's labeling of multiple crypto assets as securities, stating that an asset does not automatically become a security just because the SEC says so. Deaton cited a document in which the SEC admitted that only the court could determine the validity of its theory.

The SEC has labeled over 60 crypto assets as securities, including XRP, ADA, SOL, MATIC, MANA, ATOM, FLOW, CHZ, ICP, NEXO, VGX, COTI, AXS, ALGO, LBC, LUNC, USTC, and MIR, causing concern among investors in the crypto community.