EOS is a good example, obviously Americans can use VPNs to circumvent but otherwise Americans are geoblocked from participating.
The US has by far some of the most restrictive securities regulation in the world. Doesn’t seem to have prevented the biggest ever financial collapse in 2007/2008.
In many other developed countries, you don’t have to be super wealthy to make your own investment decisions – stupid or otherwise. If you make a bad decision, that’s your problem.
FYI ASIC (Australian SEC equivalent) chairman has stated tokens are unlikely to be securities:https://www.coindesk.com/asic-on-blockchain-australias-securities-watchdog-unlikely-to-regulate-icos/
There’s also zero expectation that you will be bailed out if you make a stupid decision.