I'm 100% with you on this one and I've been just as upset when I heard the announcement. But I'm still willing to wait and see if they are going to address this anytime soon. Kris already stated that they are looking for a replacement of the asset contract that doesn't conflict with laws. Doesn't make it any better than they even tried to get rid off it without offering even an "ongoing attempt" at a replacement in the first place though....
The solution is very simple, and Kris knows it, instead of putting the 1% in the asset contract, just buy MCO tokens with them and burn them, that reduces supply and puts exactly the save added value to each token. It's a simple solution that doesn't make it a security at all, and is employed by many ICOs. The decision to scrap the asset contract was simply to increase the profits of Monaco company itself without considering MCO holders. It is not a coincidence that they announced the scrapping of the asset contract exactly at the same time as the VISA deal, hoping it will just fly under the radar.
But that's the danger of investing in an ICO, they are not legally obliged to offer any value to MCO holders. the token can go to 1 cent and the Monaco can still be successful and bring a lot of money to the devs, but nothing to the token holders, that applies to any ICO.