First of all I agree with the SEC chairmam they are all securities. Simply put we all buy an ICO with the intention of selling at a higher price. People are not buying tokens for their utility at least not the majority. They are buying to sell at a higher price. I would argue only 1% of crypto community uses utility tokens dor their utility.
However I do think securities laws shouldn't be applied to ICO's. Instead like we need a system like what Tim Draper proposes. To have a single page or form for people to register their ICO. it also ought to be affordable. Governments need to be surpporting innovation. It certainly dosen't make sense for a small ICO trying to raise a million dollars to go through the same rigourous procedure like a giant like Amazon.
If however the SEC stick to what their chairman said that ICO securities should comply with existing laws that will justvsend innovation to South Korea, Japan and other countries that embrace innovation.
