It shouldnt because if that happens,most of these promising ICOs that has potentials will fail,even if these projects are going to be massive! the market will collapse if bitcoin and ethereum is going to fall below each current support levels,but it is very morelikely yo happen as far sa i can see with my technical analysis it really can but lets hope i am wrong 
Yes and that's why it most probably can happen. I'll explain my point of view. As you could notice ICOs are being under pressure during the last few months. But even if you ban ICOs in one country they can move to another. So the best way to defeat ICOs is to make them unprofitable. And the only way to reach it is to dump the market to the very bottom.