The SEC doesn't set the legal standard for what is or is not a security. The courts do, based on the statutes passed by Congress.

Here's a guide they published: https://www.sec.gov/corpfin/framework-investment-contract-an... It summarizes the law.

The SEC obviously will not be publishing a release saying it won't enforce the law according to criteria written to suit cryptocurrency promoters. Its key public mission is investor protection.