The SEC sues people who launch tokens without KYC and AML these days. The SEC is having a hard time finding Satoshi.

Here is where SEC has grandfathered in ETH and BTC specifically: > The SEC has declared that Ethereum and its digital coin ether, are not securities today, during the Yahoo Finance summit. https://www.cnbc.com/2018/06/14/bitcoin-and-ethereum-are-not...