The SEC has taken a clear position that whether or not it's a "smart contract" or the like makes no material difference into whether or not you are offering a s

The SEC has taken a clear position that whether or not it's a "smart contract" or the like makes no material difference into whether or not you are offering a security. Making a cryptocurrency was suggested as a way to finance Tesla's business operations, so it is almost certainly a security in the eyes of the SEC. At this point, your choices are either to sell unregistered securities or to follow SEC rules anyways, at which point, why not just go through conventional channels? "Fund your business by issuing cryptocurrencies" is an idea that will likely end in defending yourself legally against the SEC. Bad idea. I don't recommend it.