But commissioners Elad Roisman and Hester Peirce said the regulator missed the chance to define which touted assets were securities.
Enforcement Director Stephanie Avakian led SEC investigations during the heart of its ICO crackdown.
Germany's top financial regulator has issued a letter of advice in an attempt to clarify some of the regulatory uncertainties around ICOs.
Top officials say Gibraltar will let the market determine what 'good' ICOs look like, and hinted that crypto investment fund regulation is to come.
Gibraltar's legislators plan to discuss a draft of a law proposing to regulate ICOs.