Personally , I don't think there should be an ICO without whitepaper. The whitepaper bridges the gap between an investor and a company. Can we say a ICO without a whitepaper is a scam? Or what can you say about an ICO without whitepaper
Last year, Cardano launched ICO without white paper and finished product, but to my surprise he was able to collect a lot of investments, Im sure nobody will be able to do that any more.