of course, of course it would be better if an ICO project was arranged by the government where it was created. or maybe ICO can be regulated by strict forum regulations, so that the ICO that runs is really high quality.
I do not think it would be better or even good for government to issue out tokens, because there might be a form of centralization, which is against the decentralized nature of cryptocurrency itself. Theirs i think is just to regulate those lunching ICOs through the law, so as to reduce the rate of scam.