Quote from: daveon on September 01, 2017, 01:55:44 PM

You are missing the whole point. The main purpose of tokens is to allow startup companies to form capital without the need to go through big banks and regulatory agencies. This is only made possible by the blockchain.

This is the legal grey zone exploited by startup companies.

Sustainability of token based business models is the crucial point to focus on. An ICO is a way to raise funds for exactly those business types. Regulations will try to prevent investors from investing in tokens without potential, which means more requirements to fulfil for businesses to make an ICO.

If what you are claiming is the main purpose of tokens, I would like to ask you for the main purpose of coins. If there is a difference for you...