I think the ICO should be regulated so that ordinary people will not be scamed like they are at the moment.
That's already an ongoing process, but it will take a considerable amount of time before we see it spread out globally, and till that time, exchanges will keep doing what they have been doing, which is banking on ICOs.
On the other hand, people should be responsible for their stupid investments, and not just rely on exchanges or regulations to filter out potential scam ICOs, because even with regulations investors aren't entirely safe.
Nothing prevents ICOs from either failing or committing fraud, which will likely result in worthless tokens in the long run. If you jump into any ICO thinking it's safe to invest in due to regulations, you'll be up for a surprise.
Common sense in most cases is enough to avoid investing in certain ICOs. If we look at the ICO market in general, then it's just one big gamble depending on too many external variables to be considered a good option.
