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I don't think that the bitcoin exchange situation will change - they may at some point look at taxation changes. Also I think that the ICO ruling will be refined to allow new ICOs to be legal if they follow certain rules.

And that's a good thing, isn't it?

Depends on your perspective. I don't think it is a disaster although the less regulation there is the better IMO.

Yes, depends. The ICOs is similar to investing in startups. Institutional investors know how to evaluate projects, but many-many of the people participating in the ICOs have zero idea and are there because it's hype. And therefore, they can lose money easily. I believe that there isn't the right solution, but I also believe that the people investing in the ICOs should be educated somehow.

True but people need to take some responsibility for their own actions.