If you are going to create a token exclusively for your group or your company and you are not going to use it as an investment vehicle, then you can do it as long as it does not violate existing laws in your country, but if you are going to promote it as an investment with a promise of future profit, it will be categorized as a security and you will be subjected to regulation by your country, you cannot go to jail as long it is not an investment, or if you have a product involve you can promote it as a utility token, better adhere to the laws and rules of your government.