Give a penalty to ico who is a scam is necessary. The goal is to give a deterrent effect to those who have harmed investors and bounties. I think the best way to minimize ico is to do ico data collection. All timb who join in it must be recorded, so that if there is fraud easy tracking. But, it will be very very difficult to know that the ICO is scam. When they have got the money, they disappear easily and we don't know who they are. It is so blunder I think.