Recent news of the imminent closer of many Chinese exchanges is the direct result of them dealing in ICOs, I've been shocked for the longest time other countries have done so, allowing ICO's to fly under regulators radar, however its only just a matter of time.
It was obious but don't worry goverment would ban crypto becouse some bad actrors will start using it.
This common in life excuses like terrorism pedofilia you don't realy need ICO to do that.
ICO is way to move arround IPO regulations - but for me this is ok people have freedom to fail at investment too.
ICOs are making harder life for BTC but same time people are greedy and want more ICO more x10 x3 ; ) in week this is casino sometimes.
While this is completely true in regards to ICO, the title of the thread is ICO's is killing crypto. Now, 3-4 years ago, i would of 100% agreed with you, because that was a totally different time then for those of us who where involved then. The ideas, perspective and outlooks for digital currencies.
These days, ICO's is bringing crypto investments mainstream, with big publicity regarding currencies generating millions of dollars virtually over night.
There is a lot of positives that have come from ICO, but, the negatives is what kelsey mentioned above.