Your company wants to do an initial coin offering of digital tokens similar to Ether by Ethereum. You would like to raise at least $1,000,000 by offering future digital tokens to investors in exchange for their investment capital up front. These tokens will become functional only after the proposed platform is developed and becomes operational. You will act as the administrator of these digital tokens once they become operational You doubt that you will raise all the capital from institutional accredited investors. Your business associate is concerned about whether the federal securities laws and other federal regulatory laws apply to this offering and if so, what you must do. You absolutely do not want to a full-blown securities registration or other federal filings with all the work and costs involved. Do the securities laws and other federal regulatory laws apply to this offering and why? What specifically would you do if the securities laws and other federal do apply to this offering?