The chairman of the US Securities Exchange Commission has announced that most #ICO tokens are securities, while most #cryptocurrency tokens are not.  Obviously, not everyone will agree with this decision, and it does make floating an ICO more burdensome, but this is still a hugely positive development.  It provides welcome and long overdue regulatory clarity, and should go a good way towards removing a significant element of risk from many investment decisions.  Let’s hope a framework for applying this guidance follows shortly.

 
https://bitcoinmagazine.com/articles/sec-chairman-cryptocurrencies-bitcoin-are-not-securities-most-icos-are/