Fund raising is the main issue with STO projects, I guess it's the lack of trust that's affecting ICO since trust issue arise in crypto space in 2018 and mere looking at STO and ICO the different is not much, I hope STO can be successful
I don't think it's about the trust issue, because they are registered by the sec or law, that's why they called Security or Centralized token. But as crypto supporters don't like the Centralized system, maybe this is the main reason STO can't raise money from their sale.