I have written a few articles about this topic, the SEC and whether cryptocurrencies are securities over the past few months. I am of the belief (not wishful thinking) that the SEC will ultimately lose the case against Coinbase, that Cardano and other named cryptocurrencies will not be deemed a security, and these victories will be a boon to the industry and will lead to what I call "The great Bull Run."  

After reading this article here:https://cryptoslate.com/the-secs-arguments-against-coinbase-are-not-particularly-strong-law-expert-says/ 

As I wrote in the past, the article talks about the "Major Questions Doctrine" and how legal experts believe Coinbase will win the case. Seriously,  even if you don't like cryptocurrency you can come to the conclusion that a government agency can't just decide to randomly pick and choose winners and losers. A government agency can not just decide a few cryptocurrencies are securities and leave out thousands.  Think about it for a bit. Seriously, what make Ethereum a commodity and Cardano a security.  It is ABSURD!!!!!

Now, things will take time to get sorted out.  My best assessment of the situation is that before the SEC loses in court congress will pass legislation to solve the issue.   first step will be with Ripple.  There is no reason that case is not settled. I think the reason is that there are political wheeling and dealing going on before they go public with Ripple winning in the end.