I don't think these ICOs will still be able to exist when these regulations have come thru, because most of these scammers will stop or else they will be caught by the government, these government institutions won't stop hunting these shit people because most of the investors are getting nothing after investing to these scams.
Maybe Yes, if government will imply new rules in order to protect their investors those scammers will be limited but as long as there's people who still risking their money inside this business scammers will find ways to continue creating new and attracting projects, everything will be depend from what will future bring to this business.