That's only true under the supposition that the authorities are of a sufficient expertise to be able to demonstrably prove that fraud. Surely you'd agree that

That's only true under the supposition that the authorities are of a sufficient expertise to be able to demonstrably prove that fraud. Surely you'd agree that ICOs are a somewhat new thing, yes? And surely you'd also agree that - having been through this once before in the mid 1990s - that new market technologies have a disproportionate amount of fraud in their early stages, which generates an attendant disproportionate amount of destabilization against the progress of that technology growing mainstream acceptance. I'm not sure if ultimately this is a politics thing or what; if people are getting scammed, it needs to be addressed. Full stop. I don't buy into the whole libertarian fantasy (ie: if they were scammed, it's their fault; no oversight!) because that puts a tremendous amount of power into the hands of the least scrupulous people. I don't really understand why people who believe in blockchain the most aren't screaming until their heads explode about regulation, honestly. How do you think it looks when people like Mayweather and Paris Hilton and friggin' Gurbaksh Chahal get involved? How does that advance the technology? How does that prove the value of the concept? If you actually believe in it, you should be for regulating bad actors out of it.