In the future we may see a lot more regulation or were potentially every token will need to be registered as a security or possible that all exchanges must follow the same requirements / rules of for example the stock exchange or a Forex exchange. There are a lot of ways to still hold an ICO moving forward if they fall within the guidelines of traditional capital raising within a Countries guidelines for example possible using a private placement memorandum and SAFT (Simple Aggreement for Future Tokens).