Successfully regulating cryptocurrencies is a difficult and long process for countries, as we've seen over the last few months. That's especially true when there are numerous regulatory bodies in a country that all want to take a different approach. And, even as some countries like China clamp down on cryptocurrencies, companies are finding ways to bypass the bans. Regulating cryptocurrencies instead of banning them is likely going to be a good approach. It seems that governments have now woken up to both the opportunities and the threats of cryptocurrencies, and are now looking to regulate them in a way that affords them both benefits from the taxes, while also preventing illegal activity such as money laundering. However, Russia especially has been very indecisive when it comes to its stance on cryptocurrencies, and it remains to be seen whether this will be its final approach.