Regulators want to make sure they protect investors from scams, while at the same time allowing the industry to develop and deploy the new technology in interesting ways. Overregulation could move the action elsewhere, which is what happened in China.
Its too early to tell who's doing the best job of setting the rules. Nations are taking various tasks.
What do you think?
Short answer: No
Long answer: Possibly in the future
Think of it this way, other investment mechanisms are controlled and regulated, such as:
- BANKS - The central bank of each country regulates banks in order to control inflation or support financially the society in terms of loans;
- GOLDS - The World Gold Council has been supporting and developing techniques in order to sustain the demand on gold bars across the world;
- STOCKS - Stocks are controlled by the Securities and Exchange Commission in order to prevent corporations abusing their prices and the market; and
- REAL ESTATE - Lands are mainly regulated and controlled by the government through their various departments or bureaus.
The bottomline is, most of their prices are controlled and stable due to the regulation of each department per investment mechanism. Though the intervention has caused positive impacts for security and collateral, most of these investments target the long-term aspect in yielding income.
Unlike cryptocurrencies, no regulation has been existing despite the government making rules and laws for its prohibition. People mainly invest into bitcoin due to its volatile nature which may yield an individual income for short-term compared to the others.