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.
In some sense i agree with this i know that if we do not have initial coin offering we would'nt have neo,ripple, eth etc. But there are group of people who are using initial coin offering as a scheme.