How do crypto hedge fund ICO's avoid regulations or work with them?

[examachine]

Hi there,

I was wondering how to set up a hedge fund that trades cryptocurrencies in the best way, and browsing through some related ICO projects, it occurred to me that most of them plainly state they are promising returns on investment and dividends. How do these ICO's work around existing regulations, or abide by them? Any guidelines to follow for an aspiring crypto hedge fund founder?

Best Wishes,

exa