Stein may be correct that the utility token is not a security.
But the OMNI version “Maid Safe Coins” are not utility tokens. OMNI “Maid Safe Coins” represent an investment contract ( a security) a promise to provide a utility token in the future. The sale of these tokens in my opinion would be considered a security offering. And an unlicensed, unregistered one at that.
SafeCoins on the Safe Network, probably not securities as they are full on utility tokens.
The fact that the Maid Safe Foundation is registered as a charity and is not in the US does not matter. They sold coins to US investors and may have Americans involved in their operations or as advisers.
It’s the actions of the entity that matter.
and Local Regulators will likely comply with the SEC.
That being said:
Is the statute of limitations up?
Will the regulators give a free pass?
See this video.
the whole thing is great. but check out 3:08:00 onward in particular for thoughts on
utility tokens vs securities