what will be the future of ICO's based on China's ban?
It is not just China. Singapore, South Korea, Russia, and the SEC are giving warnings about enforcement action coming against ICOs.
All
ICO-issued coins will become delisted from exchanges and illegal to use and trade.
This will become enforced worldwide eventually.
The ban is silly as there are ways around it.
There will be no way around it. The prosecutions and delistings will make ICO-issued coins something that nobody wants to touch.