ICO terminations in 2019 were unimaginably inadequate contrasted with 2018 August and October both had none, while January 2018 had 160 projects. All things considered, 2019 projects raised additionally funding on average $6.8 million contrasted with 2018 $132,000, still ICOs are losing popularity because of
1. Concerns with funded projects
2. Regulatory hurdles with selling the tokens
3. Crypto bear market
I think that points 1 and 3 are quite closely related, but it is true that investors are not only afraid of being scammed, but that even a good project may not be able to survive such a long period of bear market. Regarding regulations, in my opinion the problem is not that they are, but the problem is that there are no regulations. Precisely because the ICO market did not have adequate regulations to protect investors, scammers so easily robbed investors.