ICONOMI is a foreign entity so it qualifies for Exemption from US Securities Registration, eventhough it raises capital in the United States:
https://www.sec.gov/divisions/corpfin/internatl/foreign-private-issuers-overview.shtml#IVIV. Exemptions from Securities Act Registration Initial Distributions and Resales
"Foreign private issuers may raise capital in the United States through a registered offering of securities or through offerings that are exempt from the registration requirements." This is a quite complex area of law. What you quote does not mean that all offerings by foreign companies are exempt. Not even close.
i.e., Iconomi is having a hard time placing its securities on exchanges because it can't establish an exemption for resale transactions on those exchanges. Hence they need to do the SEC registration work.
indeed, Cryptocurrencies don't require registration within US borders. Regulation is done at the exchange level, and foreign securities are not required to register with the SEC, that is 100% up to the broker-dealer, and their responsibility. The only advantage of an SEC filing would be the ability to list on the NYSE. (looks easy but not, look at Gemini) NYSE is an exchange. American CRYPTO-exchanges can list whatever token they like, because it is their exchange, and their state to state rules.
The IRS has went out of their way to make unregistered Foreign Securities taxable since 1993 (See chapter 7 of IRS code.)
A good example is Bittrex selling Antshares. Nothing to do but list the buggah.I agree. This is why Kraken listed ICONOMI.
Kraken the most prominent and most licensed US exchange with far more lawyers than Poloniex & Bittrex.
Poloniex & Bittrex will soon follow Kraken in listing ICN.