Ripple Chief Legal Officer: The SEC has been contradictory regarding the classification of crypto assets

ChainCatcher news, regarding Coinbase Chief Legal Officer Paul Grewal's post on platform X disclosing that the SEC previously made misleading statements about the classification of tokens, specifically noted in footnote 6 of Binance's amended complaint that "the SEC regrets any confusion it may have caused," referring to the SEC's earlier erroneous declaration that the tokens themselves are securities.

Ripple Chief Legal Officer Stuart Alderoty responded that the SEC's actions actually acknowledge two points: first, that "crypto asset securities" is a fictional term; second, that to prove crypto assets are investment contracts, the SEC needs a series of evidence regarding "contracts, expectations, and understandings." He also stated that the SEC has indeed fallen into a contradictory predicament.