because there is no binding responsibility, investors are still looking for any collateral and this is still subjective like buying a cat in a sack. If the ICO promotion is clearly regulated and not all of them can qualify, it won't be too chaotic now. The emergence of a too messy ICO can make many fraudsters infiltrate because there are no specific standards and it seems that it is still too easy to make.
I think that's the reason why ICO are banned on social media networks like Facebook and google.Plus the biggest point is many ico come with fake projects they're full scammed ICO who want people's money.