Free market takes care of itself, there aren't as many scam ico than there were few years ago. Investors get smart overtime and learn to do their research before investing. Do you really want government telling you where to spend your money? because that's what regulation would do. It would make it more centralized. Is it a good thing or bad thing? there are prons and cons but I prefer wild west than centralization which would make everything not so anonymous and make no mistake, just because it's regulated doesn't mean there won't be scam.