we're barking up the same tree…
I agree with most of what you say though I do think there is a case for some of these projects to have new regulation. stock certificates don't have utility, dual or more use. It's just a contract. So in the cases that there are tokens that do more, then I would suggest appropriate categorization, which doesn't yet exist. I don't know if such thing as a utility coin only reg would be appropriate since a lot of these also raised money on the token sale. There is no ultility token only or hybrid regulation and the securities law as it doesn't apply for those. As for the other 95%, sure, fuck 'em. They should all go to jail. To me, ETH is a scam from the beginning. I might only give leeway to Mastercoin/OMNI because it was the first ICO, back when they were still called crowdsales to solve the colored coin failure with a meta token on BTC. There are elements of security, but also utility and innovation. It had real thinking behind it. Also MAID, the second crowdsale. In my mind, not a lawyer, it seems more like a security, startup money, but ultimately it is to be exchanged for the network utility token. More importantly, though, is that they haven't pushed out an unfinished product. There's no copy/paste with MAID. It's more legit as an actual decentralized technology than even BTC…and 5 years on, the network still isn't live. People complain because it's not getting the fast money, but when you really look at the innovation and what's coming, security or not, it's the opposite of the 99.99% garbage in terms of honestly with regard to innovation, funding, and post-funding behavior. DOGE got crypto-rich and sponsored a Nascar…seriously? Money made by fraud gets spent that way.
Faggots act like marketing idiots when money is free. Think bitconnect! Even better, Ethereum!