Good subject! I am completely against any type of regulation, even if it scammy to invest. What I can say is, that they have even running companies ripping off poor people like Enron and Co. But there are many bad things happening under their watch and the "reward" for what some people cause is not prison. This is why if those things would have happened in Iceland, many people would be in prison by now. That is not good also.
The only thing in what I believe is good to do, to have a flesh and bones people who are doing that ICO. If so, then there are people to trace. This is the only way.