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RE: My Take On SMTs (Steem's Smart Media Tokens) And Why I Think Its The Game Changer For Steem. I Believe Steem Is About Where ETH Was In 2016 But For Social Media.
Do you have a reference link to the sec law you read regarding sw tokens? I want to read more about the current loophole as it stands now.
A prime example is how EOS structured their ICO.
https://strategiccoin.com/difference-utility-tokens-equity-tokens/
Simply put, while both equity and utility token prices may fluctuate, the key difference is that equity tokens entitle the holder to ownership rights, while utility tokens function as coupons and do not provide holders with an ownership stake in a company’s platform or another asset.