This won't be happening. Countries can take regulations, but this will never help them regulate the ICO structure barely. This will only a fear factor for ICO conducters that's all.
They can create companies in Singapour, Cayman Islands etc. They keep it anyway.
However, to do this one has to first expatriate money from China, US etc to Signapore, Cayman etc.
I too consider ICOs needed to be regulated one way or other. With the growth in the number of ICOs, we started seeing a lot of ponzis.
Ponzi is a risky investment and it's the government who has to take steps to secure it's citizens.