In response to Paul Grewal, the Chief Legal Officer of Coinbase, who stated on X platform that the statements made by the US Securities and Exchange Commission (SEC) regarding the classification of cryptographic assets were misleading, and Binance expressed regret about this in the footnote 6 of its amended complaint, Stuart Alderoty, the Chief Legal Officer of Ripple, responded. Alderoty believes that the actions of the SEC actually acknowledge two key points: first, there is no such term as 'cryptographic asset security'; second, to prove that a cryptographic asset is an investment contract, the SEC needs to provide evidence of a series of complex 'contracts, expectations, and understandings'. This indicates that the SEC is caught in a contradictory predicament in determining the legal status of cryptographic assets. The definition and interpretation of cryptographic assets by the SEC are uncertain, leading to confusion among the market and investors in terms of understanding and expectations.