Anchor Token
For starters, lets focus on whether or not the Anchor tokens are securities. And thankfully, FINMA has taken the effort to tell us directly that they were not. FINMA will not treat payment tokens as securities is a direct quote from the guidelines that puts a stop to that line of questioning.
Dock Token
Now, with the Dock Tokens, our utility token, it can be a bit more complicated. In order not to be considered securities, utility tokens have to have the purpose of conferring digital access rights to the service or application. Moreover, if tokens could be sold during a presale or in any other way bought before they can be used, they will be treated as securities.
As Anchor isnt holding an ICO or any other pre-generation event and the access rights given by Dock tokens are immediately available, we can see that FINMA shouldnt consider Dock tokens to be securities either.