There is no general answer to this question. Each jurisdiction has its own view on whether tokens offered in an ICO are securities or some other kind of financial instrument. Certain tokens might not even be regulated in some jurisdictions. While the SEC dominates the discussions at the moment, there are good reasons to take a look at regulators in other jurisdictions.

There is one more thing you should consider. Just because you are compliant in one jurisdiction, it does not mean that you can sell your tokens compliantly in other jurisdictions. Let's say your token is not regulated in Singapore, but you intend to sell it to investors from the US, you must comply with US regulations. The same is true for any other jurisdiction in which you target investors.