I have a (not very well supported) prediction that Filecoin will be the first ICO company to incur the wrath of the Securities and Exchange Commission.

Last month the SEC released a report [0] that said in many cases these ICO tokens can be classified as securities, and therefor going forward, could be subject to all the same laws and regulations. These are not laws you want to be breaking. This Filecoin ICO has been highly publicized, and importantly, came after the SEC's report.

It doesn't matter if it all only exists on a blockchain. When the SEC decides to make an example of one of these companies it will be a bloodbath.

Matt Levine has been covering this topic recently. [1]

[0] https://www.sec.gov/news/press-release/2017-131

[1] https://www.bloomberg.com/view/articles/2017-07-26/tokens-va...