Ah yes, how dare we poke and prod at the validity of current governmental systems and regulations. That feudal era was such great times, if we had only not gone against the merits of the government of the day./s

There is little doubt that many ICO's are 'scams', and some people will get hurt financially because of it.

The challenge with regulations is, it's easy to quantify the harm they try to stop, but it's harder understand the impact they have on limiting future creation / innovation etc.

Tokens / ICO's have created a whole new, far more accessible way to fund and invest in new technology. Making it far more equal, fast, open and liquid than the traditional process.

Regulation is coming, as it should. I just hope it's done with an eye for encouraging the right type action, rather than just trying to stop the wrong.