It would seem ICOs are specifically referring to crypto currencies or tokens offered in exchange for crowdfunding, while crowdfunding in itself is just raising money with a crowd. there has ben crowdfunding for a while now; observe gofundme and indygogo. but they werent offering a token or coin, essentially a security, with an expectation of profit. why else would anyone invest in these? i love some of these ideas, but i would never just "donate' money. if its a company, i would invest by buying shares. these icos are essentially issuing stocks in the majority of cases; of course this was going to be regulated eventually. the laws for legitimate securities are draconian.

welcome to the board stay a while, its fun here.