Well, there is no legal punishment or action that can be taken on ICOs since there are somany ICOs scamming, it's like people using torrents. Using torrents is illegal. But there is a huge amount of people doing it. Who are you going to catch. Same case with ICOs. What we can do about it is remember the names of all the people involved in running the scammy ICOs, create a gloabal public datasheet and share their names with everyone so everyone can be aware about their unethical conduct.