In my Opinion regulating cryptocurency industry will be a good thing in the long run, with the most important aspect being mass adoption. Everybody on Steemit is really early adopters of the new technology and this will count in all our favours in the long run. For me regulation means mass adoption, as more and more people will feel more comfortable to invest their money in Crypto Currencies. And we all know that when more money comes into crypto, the prices of everything usually goes up and I do not believe that regulation will cover that we all have to declare exactly how much Bitcoins we each own.
BTC or any other cryptocurrency is regulated by its own. There is no governing body over BTC and therefore government of many countries has denied to take BTC guarantee and declared that they are not responsible for any kind of losses regarding BTC and I guess this condition of BTC is probably due to the negative publicity of BTC and this is the reason why people don't find it trust worthy enough but we have create awareness among people about advantages of BTC because in future everyone will have to use BTC because BTC is the future of economy.