A legal expert, John E. Deaton, has criticized the classification of cryptocurrencies as securities in investment contract cases. Deaton argues that the underlying assets in investment contracts are distinct from securities, using examples such as gold and bitcoin to make his point. He highlights that courts have ruled that XRP is not inherently a security, even if it has been sold as part of an investment contract. Deaton calls for regulatory clarity and urges the SEC to address the misrepresentation of crypto assets as securities. The classification of cryptocurrencies, including bitcoin and ether, as securities or commodities remains a topic of debate within the crypto community and among regulators.



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