The US SEC Seeks to Expand Categorization of Securities: Experts

• The US SEC is pursuing theories that would expand the definition of what constitutes a security.
• The SEC alleges wrapped tokens to be securities because they are a “receipt for security”.
• The Regulator could leverage the receipt theory it promotes to target other crypto assets like ETH.

John Deaton, the founder of Crypto-Law.us, believes that the United States Securities and Exchange Commission (SEC) is pursuing theories that would expand the definition of what constitutes a security. He regards it as a dangerous development executed by the SEC with a well-planned and coordinated strategy.

Mike is There’s a well-planned and coordinated strategy being carried out.

The SEC is pursuing novel dangerous theories expanding the definition of what constitutes a security. It started with calling tokens like #XRP, #LBC, #DRGN, etc. as “digital asset securities.” https://t.co/DvLpdz5hTN

— John E Deaton (@JohnEDeaton1) February 18, 2023

Deaton said this while replying to comments made by Mike Selig, a crypto and Web3 lawyer, over SEC’s recent activities in the crypto industry. According to Selig, the SEC seems to be shifting the goalpost in the middle of…

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