This issue has already made an impact on bitcoin. If you notice after such announcement by google was made the value of bitcoin fell down from 10k dollars now it was at 8k$ + and it is slowly going down to 7k$.

Many are thinking if this move by google will have a long term impact on cryptocurrency and in my assessment it will surely does. But if ICO is banned then the old and established coins and tokens will surely increase in value especially bitcoin since if there will be no ICO then it means that people and investors will swarm on the old and established coins that are listed on the coinmarketcap.