You are right to be cautious about ICOs. I see a lot of great ideas in many of these ICOs, but for the most part I think they seem too good to be true, and I'd rather invest in coins.

Even though I think a lot of these ICOs are dishonest, the government has no place regulating them. We need to be responsible for our own choices, and it's a slippery slope if we start letting the government tell us what we can do with crypto. Let the government regulate fiat money, after all they printed it. But stay away from my Bitcoin.