Bitcoin as one of its raising funds methods in the course of the ICO, which has been brewing lately, may not attract the attention of regulators, but Ethereum may be more interesting to US regulators and is recognized as a security traded on stock exchanges.
The Wall Street Journal about this
https://www.wsj.com/articles/worlds-second-most-valuable-cryptocurrency-under-regulatory-scrutiny-1525167000.
According to the publication, at present, the US federal financial regulators conduct an analysis of the assets created on the Ethereum protocol. Using a number of criteria, they are trying to establish whether the creators of digital currencies have a significant impact on their price, as is the case with stock exchanges. The price of the latter largely depends on the strategy implemented by the company that issued them.
