As far as I can tell, the SEC statements have changed almost nothing. Most people understood the situation even before the SEC said anything, some people still refuse to acknowledge reality even afterwards.

I have yet to meet anyone who has changed their opinion on the legality of ICOs as a result of the SEC statements. In this respect professional fund managers are basically no different than redditors, where you show them an SEC statement and they see whatever they want to see in it.

> I have yet to meet anyone who has changed their opinion on the legality of ICOs as a result of the SEC statements

Sure, but there is a difference between “I had a different interpretation of the law when I issued securities” and “I blatantly violated SEC guidance.” The latter is easier to prosecute and litigate.

People are changing their strategy.

As an American I now want to find a foreign country I can relocate to that is safe and has regulatory frameworks that are friendly to this type of new fundraising.