Any ICO that accepts U.S. citizens is playing with fire. Here's the thing with these SEC bloodsuckers. They trying to hang the lawyers advising these companies. Say you working with Jones & Jones law firm. They tell you it's cool. You're not a security and can accept Americans. Months after your ICO, you and Jones & Jones getting that paperwork from the SEC.

Businesses who accept Americans are going off the advice of their lawyer(s). Now some lawyers catching hell.
You accept your lawyer's advice thinking they know the law. Then you find out they in hot shit too.
And it's like they pulling names out of a hat. My guess is they going after easier targets first since the assclowns don't have official rules on this. I'm guessing utility tokens might be harder to go after until they make official guidelines to fuck people over.
Smart companies don't want no part of this fuckery. Why involve yourself with people who making shit up as they go along and have unlimited resources from taxpayers to bankrupt you in a legal fight? Lawyers are going to lose their licenses behind this shit and that's fucked up.

I
Supposedly, only 'accredited' investors who are Americans can participate with securities. Also, they supposedly can go after non-accredited investors who participate. This is all a train wreck.