Some countries don't allow people to invest in ICOs. Why is that? They don't allow ICO that issues dividends and represents the shares of a company, or they just ban all the ICOs?
which country do you live? some ico's arent actually restricted or prohibited on most countries. ico's are mostly online so i dont think that the government holds it or they can add a law about it although i believe that the main reason why they are banning ico's is because most of them are scam and will likely turn to scam someday, basing on the ico these days, there were only few are only legit with real projects to offer to the public.