What implications occur IF most cryptos become a security?

I'd like to discuss what implications occur if our beloved cryptos become a security. I feel like people are fighting tooth and nail to stop our favourite tokens becoming a security under the SEC rules.

Besides projects having to comply with rules and regulations of the SEC, are there any extra issues with this? Privacy concerns? Are the rules and regulations of the SEC the issue that is trying to be avoided as a whole?

I feel as if no one has ever explained why being a security / being regulated by the SEC, is a huge issue. We all want mass adoption and that is going to require regulation which means potentially being a security. The plus side is the added consumer protection laws being applied (which I can see as being positive). Or that a naive thought?

I thought it might be an interesting discussion to be had (if it hasn't been had before)