Excellent point @dana-edwards but i believe corporation with the likes of Aragon Project (another cryptocurrency which deals with legal aspect within the crypto space) or similar projects would be a move in the right direction...Once the necessary protocol has been establish depending on the objectives of SMT being issued then necessary guidelines could be put into place...these issues are being tackle as we speak, so its a matter of better understanding your product and trying to meet the guidelines if it becomes an issue
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What is Aragon project?
Its basically the project trying to deal with the legal aspect of crypto, ensuring that correct protocol and varying legal aspect are met...it also deals with providing jurisdiction among other things, that's why i believe that projects similar to this can to used in collaboration to meet the necessary guidelines as recommended by SEC