[aboodman]

It depends on how they are used, but frequently, yes. Even so, you can sell to accredited investors totally legally. A few ICOs have worked this way.

[cvaidya1986]

Is a cryptokitty illegal for non accredited investors to buy? Or is it just a “normal” good.

[whb07]

No it’s just as trivial as a Pokémon card

[zeperoni]

Cryotpkitty is under the current existing Ethereum network. Like how you can still buy bitcoin. ICO are initial coin offerings, so it's an investment before the actual coin is released and on the market.