If there is a way of harmonising regulation, it will help in giving credibility to the whole process of approving ICOs. Crypto project ICOs need regulations so institutional monies can start flowing in and also for the protection of retail investors.
The community also has a role to play by coming up with certain standards which projects need to comply with before launching of ICOs. There is much to be learned from various failed ICOs which can help in plugging holes and making future ones more credible!