NO regulation.

Not that I care. I'll still do whatever the hell I want, I'll create tumbling services, I'll run mirrors of SilkRoad, I'll fund a p2p exchange -since I can't code myself- that will happily ignore and make all existing KYC/AML laws unenforceable on it, I'll use so-called military-grade crypto in onioned layers, I'll use all the tools that exist to bring down a system that stole two thirds of all that humanity has made and gave it to 1% of humans.

The faster solution is to kill off the 1% and distribute their wealth to everyone else (90% of all wealth divided by seven billion would ERADICATE poverty overnight.)
The HUMANE solution is to simply disconnect their power from under their feet. Back btc with "all of the money" and all govts and banks are DEAD. Implement distributed markets, dominant assurance contracts and pay-to-policy outputs, and BOOM : DIRECT DEMOCRACY.

All we have to discuss is the terms of their surrender. They can't control us because they can't raid us all. They'll try to stop us by fining a handful of poorly-anonymized ones to create the urban legend that someone, somewhere got ruined for doing it. That will work exactly as well as it did to stop filesharing - that is, near-zero effect.

I refuse that we castrate a tool that can bring more equality and liberty to the world to appease the iniquitous slavers who manage it currently.

NO regulation.