and some poeople still think there is no need for regulations
Not just ICO shall be regulated, but also every coin shall be ruled by law, because they are relative, but now no government even accepts cryptocurrencies. Maybe one of the reason why the crypto market is hot and profitable - scam and unexecutable project. After law begin to restrict the market, perhaps we will find this market is not really profitable as we think now.
I'm sure it gets mainstream and they just want their citizen to be more careful on their investment. If government has jurisdiction we could pay taxes. however the crypto market will get bullish if it was done by the government and implementation will began shortly this year. i Hope those scam project will eliminate.