Leading exchanges, such as Coinbase and Kraken, announced they have created the Crypto Rating Council, whose purpose is to rate various cryptocurrencies in relation to how close they are to a security. As to what will be done with such information? Umm... I guess not much... as the ratings have no legal bearing and the SEC can choose to ignore them completely.

https://www.cryptoratingcouncil.com/asset-ratings

Perhaps the ratings will be used by exchanges to police themselves, and limit coins they have deemed to be close to or actual securities. However XRP was rated 4/5, and it's being sold everywhere. The council plans to rate additional cryptos in the future, although they already stated they won't list which coins get a 5/5 rating -- I suppose that would be giving us too much information.

Anyway, this is a first great step, providing a final answer that is both useless and completely vague and subjective.