The ICO scene resembles the Wild West at the moment. Little by little some legal overview is put into place. Unfortunately it is also a very profitable scene for scams and not so serious people. It is all the same very surprising how an Useless ICO managed to gather $ 300'000. I think that a lot of people are simply not aware of the risk of ICO's and this is not only a problem for the serious ICO's but also for the cryptocurrencies as a whole. People who are not familiar with the subject tend not to understand the differences. So when people get ripped off, it pushes the legislators to put rules, to forbid and ban the whole sector, including crypto currencies...