They can regulate it all they want, but anarchy will find a way eventually, although in the case of ICO and cryptos. Anarchy is a good thing. I believe it is the first time in human history, a technology can progress this quick, in just 10 years since the first bitcoin exist myriad of blockchain invention has been created.
And I believe the catalyst of this rapid progress is the good kind of anarchy.
It's so fun to watch bitcoin and blockchain make these people, squirm. Anarchy is a good thing.