Nope, ICO should continue and must be regulated.
There are so many upcoming project which will change the world to a better one.
They need to be funded and share to all the people of the world. regulation is the one missing to get away those scammers.
If we really need a regulated ICO, then let's accept that ICOs should be abandoned and welcome STOs which are much more regulated than that of ICOs. ICOs are part of the long bear market we are experiencing at the moment. They stole most of the innocent man's money and they are now cashing out which is the effect we are seeing.