The more the SEC cracks down on unregistered securities posing as ICOs ,the more the atmosphere in crypto will change .IMO , ICOs will not die but they will definitely have to take a new form and STOs will play a big role. I believe this is a gods thing for the industry.
There is limit to which SEC can do. Most times, the projects they usually have power over are those that are within or near the jurisdiction. Else, they can only watch their activities from afar without being able to do anything. Also, even if they have such power, the are some of these projects that do not reveal their identity. Therefore, investors are to learn to protect themselves.