With all due respect, I would not support legislation around ICOs. It's a slippery slope, and if you give the government an inch, they will try to take a mile. People just need to know the risks, and not invest more than they can afford to lose. It's the wild west with crypto, but that's the way it should be.

If an investor wants to work within a framework of government regulations, then they should stay away from crypto and invest in the stock market (I don't say this with disdain; I truly think the stock market is essential b/c it provides an investment environment with regulations, for those who want that).