I don't see why that matters. They clarified that DAO tokens are securities but decided not to pursue any action for a number of reasons, one of which being (an

I don't see why that matters. They clarified that DAO tokens are securities but decided not to pursue any action for a number of reasons, one of which being (and they've stated this elsewhere) that prior to their clarification there was ambiguity on this issue. The tl;dr is that they are clearly securities under existing law. Now that the SEC has clarified that fact companies are free to issue Tokens if they comply with the law.