The SEC has ruled that some coins in ICOs are actually securities and are subject to the SEC rules[1] so they aren't going to really bypass the SEC at all. It's

The SEC has ruled that some coins in ICOs are actually securities and are subject to the SEC rules[1] so they aren't going to really bypass the SEC at all. It's just a matter of time before things get ugly. [1]http://fortune.com/2017/07/26/sec-icos/ http://fortune.com/2017/07/26/sec-icos/