I'm not sure if it has been formally stated yet but ICOs are causing problems for bitcoins use case as a currency.

You see the problem with the Government and your typical investor is the lack of education.
To understand this you need to understand the difference from Protocols vs general tokens running on protocols.

Example Etherium (ERC20) being the protocol and tokens created on the protocol are ERC20 tokens.

Now because of the lack of understanding and education for the subject we have increasing tax laws involving crypto (currencies). Not all crypto is a currency and they do not understand that!

As my boy Ivan explains in this article:
https://steemit.com/blockchain/@ivanli/icos-2018-programmer-explains#@sirconfucius/re-ivanli-icos-2018-programmer-explains-20180119t201620837z

For the most part; #ICO is just the new stock market

So why the government see fit to tax gains on a conversion between fiat to bitcoin is ridiculous if these taxes don't effect tradition currency conversions such as euros. Furthermore now you pay taxes on buying alt coins technically twice as you are taxed for gains in bitcoin and taxed again in the alt coin sale. I'm not blaming alt coins for the situation but I think the contribution of scams, ICOs, and alt coin growth is going to lead to some significant regulations and taxation in a space which could have been avoided.

I'm simply voicing my frustration for the situation and lack of understanding from Governments.