Right, if a developer does nothing illegal there is no risk. So a developer has to do everything they can to reduce legal risks onto themselves because a lot of activities which seem legal might be illegal.

This is what I mean by we need better templates than just the ICO template. It might be possible to do the ICO correctly, but it's also possible to do it incorrectly, and then it's a matter of how harsh are the penalties. In any case developers having to spend more and more time dealing with legal issues is not good for development.