Who's scared of the SEC?

I think the comments made by the SEC are overblown and people get upset by remarks like "Every ICO I've seen looks like a security". People have no imagination and cannot envision exactly what this means in the coming months and years.

Let's take the worst case scenario. A day comes when the SEC lays out a ruling on ICOs and unleashes a wave of enforcement actions and 'legitimate' crypto projects. This ruling has to be tested in the courts before it can stand. This will go all the way to the supreme court on appeals unless it's thrown out by a lower court in which case it's game on.

So in the worst case, we are 3 years down the road and the supreme court sides with the SEC. How many thousands of ICOs will have been run in legal jurisdictions around the world by then? We will have dozens of crypto projects in full production with people using tokens as the utility function they were made for. When you have tools people can actually use in their hand's people will see the idea of tokens being a security as the absurdity that it is.

So the SEC closes the door after the horse has bolted. Do you think they will be given the resources to round up all the horses? In 3 - 4 years once the US economy has collapsed again?

Do not fear the cheap remarks made by a government agency that cannot possibly scale to handle what is coming.