RE: Is your coin a friend to a government? Is legitimacy going to become mandatory?
I agree the accredited investor rule doesn't help average investors. In my view, the exemption from registering security when offering to accredited investors is not for the benefit of even the accredited investors, rather it is to the benefit of hedge funds or private equity funds to privately offer investment rounds to high net worth folks, without being subject to the SEC requirements. Accredited investors are high income/assets.
I think there is an assumption by the SEC that many of the people getting involved in initial coin offerings are not accredited investors and therefore the claims by initial coin offerings of being exempt from the SEC rules is at a minimum, questionable and warranting diligence. If the SEC is trying to make public outreach, perhaps they could've made that point a little more clear so that is not only readable by finance folks.
That doesn't make sense to me. What is the motivation of the SEC to put so much resources and effort toward that?
I beleive it allows SEC to allocate its limited resources mostly to the securities that are offered to the general public, such as stock exchange (and now, crypto ICOs).