You'll be able to hold it, and trade it to other wallets, but it will be illegal to trade it on any exchange. Making it practically worthless, and almost impossible to put a value to it in the future.
Any crypto that gets labeled a security in the future will be metaphorically killed. And no one will use it anymore, they will all die a slow death.
So then I can just convert to another crypto and then cash out.
You have to do it before the exchanges delist it.
Not after it's taken off an exchange, and it will be harder to find people to trade you for your worthless security coin after it is banned off exchanges.
XRP is being taken off coinbase in a week, and pretty much every other us based exchange shortly thereafter. You will be holding the most worthless coin in the world in a matter of weeks.
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