I have invested in 7 icos and I live in the US, I am not worried about any possible regulation of icos, simply because when the SEC does start to regulate the ones in the US that they say are securities, it will actually legitimize the crypto space. The SEC will have to admit
that Bitcoin and Ether are currencies, how can you buy a security with something that is not a currency? Plus I suspect it will take some time for the Sec to figure out how they are going to apply and enforce the rules and what the rules really are. For now they are just trying to scare new US icos into registering as securities. This is all about money the US government wants their piece of the pie, since this money raising is bypassing the government and they aren't getting any $$ out of it.

However it ends up, you might want to get in on some icos now because the government could ban us citizens from participating in unregistered icos at some time in the future under the guise of protecting the investors. Just like they have tried to do in online gambling. Then only the rich (accredited investors) will be able to invest in icos.