In fact they promise nothing, like Tezos. Have you heard of such ICOs? Would you invest in such one?
How do they get away with it and investors still do open their wallets?
Look at Tezos no promises whatsoever, its all "donations" to a Swiss fund and coins havent been distributed
for more than 4 months. Is it even legal? Personally invested in Tezos.
if ico does not give benefits to the community what can you do? can you prevent the emergence of new ico? certainly not because there is no rule about ico.