Some of them are securites some of them are not securities, depending on what you are selling, this regulation classifies ICOs in 3 groups:

https://www.finma.ch/en/~/media/finma/dokumente/dokumentencenter/myfinma/1bewilligung/fintech/wegleitung-ico.pdf?la=en

What I want to know though is that since PayPal accepts now to be the payment processor for ICOs (check this link: https://parkgene.io/parkgene-ico-now-accepting-paypal-payments/)

does this mean that if we want to make an ICO, we do not need to worry about KYC/AML anymore? PayPal takes care of this for us?