If you're only focusing on the costs of compliance, then you're looking at the wrong thing. "Coin offerings do not have to fall in the tens of millions of doll

If you're only focusing on the costs of compliance, then you're looking at the wrong thing. "Coin offerings do not have to fall in the tens of millions of dollars." The amount of money does not matter; a scam is a scam. "For companies on this scale, having to hire a legal team to ensure compliance is a significant burden." That sucks for them. But the alternative is far, far worse. "A coin offering instead of angel investors could have been an interesting option for a similar company now a days." Why? If the only reason is that they don't have to comply with the reporting and transparency regulations, then it's not a good reason. "But you have to balance the cost of compliance with the expected results." Why? And, quite frankly, why should an ICO be treated any differently than any other security? They are exactly the same; and have absolutely nothing differentiating them from traditional securities. "How will this effect the rate of perfectly up and up ICOs that are not made available to US investors?" I'm going to say it won't. Perfectly up and up ICOs will be able to get compliance, and will thus be open to all.