That is my fear or concern if you will. The government requires control and what scares them is the apparent lack of control. The problem with ICOs is that even though the tokens are decentralized, the distribution is centralized and that is the reason why they can aspire to control it. Remember Napster? The network itself was P2P but the company behind it had a central location. This is nothing new; it is just now in a different form. When MP3s came on the scene the music industry was scared and they are still scared to some extent but we all know what happened there. One of the main reasons that Apple (AAPL) is the biggest company in the world is because they capitalized on MP3 technology and catapulted them to the top: the creation of iPod leading to the creation of the iPhone!!!! I think that people got greedy and instead of issuing coins that could be mined or staked, they opted to make money quickly by setting their own price in an ICO, this way they can make money quickly and not be accused of "pump and dump". Then if the project failed, they will categorize it in the same realm as a failed startup. It makes it easier for the developers to sleep at night. Neucoin tried this strategy and it blew up in their faces. I believe in pure crypto: let the community decide its worth by mining it and trading it. The value goes up or down based on that and acquisition is through mining and not determined who has the biggest amount of money. This was the vision of Satoshi Nakamoto; not this new form of crypto! Every day there is some strange ICO on Coinmarketcap vying for attention. This is the reason why the SEC now finally has a chance at control. When everything was decentralized...really decentralized...no central distribution, they couldn't even dream of this.
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We just have to wait! But prepare for that, it will surely come like a burglar.