This refers particularly to the case of the "DAO" the report explains that while they will be not taking action at the moment. In the future, it sets a precedent.
Let's remember that the DAO was as close to a hedge fund as you could get at the moment. It doesn't mean all tokens will be treated as securities. Also, the only surprise is that it took them so long.
https://www.sec.gov/news/press-release/2017-131