Legalities aside, the thing I like about cryptocurrencies in general and to some extent applicable to ICOs is the much lower entry barrier for those of modest means to invest in something that very well could improve their financial lives in a way that wouldn't be possible otherwise.

If I only have $100 to invest, I can buy an undervalued cryptocurrency and maybe I'll end up sitting on something worth $10,000 or more. Cryptocurrencies basically make investments fungible enough for poor people to participate. $100 too much for you? You can also just invest $10 or $5. Remember in the early days of CryptoMoms when we were encouraging each other to give up your Starbucks Latte and use the money you save to buy DNotes? Well, with DNotes and some other coins, that kind of small investment really could make a big difference.

So when I hear about the SEC cracking down more on ICOs and other things related to cryptocurrency I worry that this door for poor people might get slammed shut. I hope that doesn't happen, and I'm grateful that this door was open for me.

That said, I also believe that people and entities promoting investments need to be honest about what they are promoting. Many ICOs have been shady and those poor people who have little or those middle class people who give up their weekly lattes at the very least deserve to know that what they are putting their money into has every reasonable chance of being successful (though one can never guarantee such things). There should be some protection from charlatans running ICOs that do nothing but scam people out of their money--at least in the form of full disclosure about fundamentals so that an informed investor of any social or economic class can make a good decision.

I just hope that the protection afforded investors does not also make it more difficult or impossible for people to participate. For example, I really hate how so many investments in the US are only available to accredited investors. You can invest in this wonderful promising startup and possibly get rich. Oh wait. You already have to be rich in order to get the chance.

I hope we can maintain the fungibility of cryptocurrencies and ICOs where investors can buy any amount, no amount too small, while still building in some reasonable standards of solid fundamentals that those seeking to raise funds for their ventures have to follow.

At the end of the day, though, the responsibility to spend one's own money wisely has to lie with each one of us, regardless of how much we have. There's only so much regulation can do to save us from our own poor financial choices without becoming overly burdensome. I wonder if it wouldn't be a better use of national resources if more funds weren't put towards the proper financial education of children (and adults) instead of towards trying to overregulate entrepreneurs who want to raise funds in the easiest way possible. If the majority of the population were properly educated on financial matters, wouldn't that in and of itself make it more difficult for the charlatans to raise funds?