It cannot be overseen or regulated by any one administrator, like a government or bank. Currently, there is no government regulation on them which also means there is no government safeguards over them. Although many are looking at Bitcoin to put money into, it would be wise to proceed with caution. Regular central banks are watching it and deciding whether or not to make them illegal (Criminalize them) and therefore make them worthless and eliminate them as competition. ICOs (Initial Coin Offerings) are something most have no idea as to what it means and how you utilize it. Where is the «Stamp of Approval» or «Stamp of Legitimacy» on some of these Bitcoin websites (how do you know you are not dealing with a scammer?)