Hundreds of startups are reportedly being “secretly” targeted by the U.S. Securities and Exchange Commission for their involvement with initial coin offerings. Companies that participated in ICOs are now scrambling to clarify whether their token constituted a security, and, if so, whether it was properly registered with or exempted by the SEC.
Yahoo Finance and Decrypt claims that “Hundreds of startups that did token sales are finding out they’re in violation of securities law— including many that were sure they did it the right way.”
https://news.bitcoin.com/hundreds-of-icos-being-secretly-investigated-by-sec-claims-report/Was it expected any other way? I mean as a foreign person outside of USA as an investor I do not have to care about the SEC and I can just invest into any ICO I want and than sell it whenever it hits the exchanges however as the ICO based on USA they have to consider the fact that they are getting millions sometimes hundreds of millions of dollars which means they are a securities option and they need to react and pay taxes accordingly.
Which means sec will investigate them, this "investigation" is not against some crooked companies, its just investigation just to see if they are what they are and as long as they are not scamming anyone they have nothing to worry about.