Launching my own coin & on chain programs - US legality?

Hi all! Long time lurker but first time poster. I’ve been into blockchain tech since around 2014, but have never had time to really develop anything cool. I’ve been doing research into Solana and it seems easier to create your own tokens and it’s a hell of a lot faster and easier to build smart contracts (programs I know) on this chain then dealing with Solidity on Ethereum.

I’ve had several ideas for tokens & programs that actually could do cool things. Stuff like some gamification and anchoring to real world events that offer tokens as rewards. I don’t want to launch coins that just screw people over, I’d rather make cool things that generate some revenue for me and other users. I’ve also been working for other companies for long enough and would love to start my own projects to help add some extra money for my family and friends.

The documentation is pretty solid and rust is relativity straight forward. Before I get started, I was wondering what the “legality” of this stuff is?

Many of you guys have coins you have created and are earning revenue. One of the few good things about the current administration is that they are very pro crypto and deregulatory - seems like the perfect time to start my projects.

How are you guys handling legal stuff in the US? What specifically are you doing and how are you being taxed?