Its a trend now. Initial coin offering,  crowdsale,  some are legit.  Legit when their whitepaper is good,  the theam behind the product is searchable and with good track records. Usually,  a good ico is when the team behind it is already investing money on it. The purpose and functions are precise and relevant. Sadly,  there are still ICOs released today who are scam and using ponzi schemes to attract investors.

I think the government should focus their effort on filtering this scam ICO as this is making bad impact on cryptocurrency in general.