In the absence of guidance, look for organizations that would be antagonistic to what you aim to achieve. That would be the SEC in this case

even if you behaved as though this was a grey area in the UK, you could still run afoul of the SEC if you offer this/any unregistered security to American citizens. the UK and the US are bedmates when it comes to extradition, so if you were looking for people not to piss off, you would avoid doing anything to attract the attention of the SEC. A lot of this has to do with how the project is presented/ explained. You would go far not explicitly promising profit or dividends, even if there is a mechanism in the token/platfrom that might provide it.

"its a feature'