I agree with you. I may add though, there are a lot of dangerous ICOs out there. There is no way to really do hardcore research on them because not many people understand the tech behind cryptocurrency. I believe that educating people on crypto currency is very import in order for people to have true responsibility.
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Education is a great idea, but letting some agency decide what is a good investment or not, doesn't seem like "doing due diligence." If an investor cannot take the time to do some research, is a few regulations gonna actually help them?
While regulations of fiat, financial schemes is necessary, because their system rewards deceit and theft.
Crypto is based on faith and trust, ensured by math.
ICOs are inherently risky. It's no different than gambling. If someone bet their livelihood at roulette, would you blame the casino? People should be free to make stupid decisions, but not free from the consequences of their decisions.