The best solution would be some kind of industry organisation, a foundation by of the different blockchain teams, large and successful ICO companies and academics from the universities.
Government regulation is often ham-fisted in execution and biased by ideological beliefs as well as different between countries when the blochchain technology is global and decentralized.
If the blockchain world could organize some kind effort to sanitize itself it would be for the best.
It isn't wise to expect the industry to police itself. The fact that such an industry group hasn't naturally arisen suggests that the people involved in this industry aren't so inclined. But it would be a mistake to expect them to self-police the issues that are causing people to raise the point that they should be regulated. Things that need to be regulated are so because they can't be trusted to act appropriately, otherwise there would be no call for regulation in the first place.