Definitely Yes! I think it is possible to come up with a regulatory framework around bitcoin.  In that case bitcoin can be used at the same rules and it can be easy to introduce to other people. If bitcoin itself was regulated against, users could simply trade it for another cryptocurrency, and then cash that one out instead. With hundreds of cryptocurrencies now in existence and more emerging all the time, it would be nigh on impossible to stop unless all currencies were barred.

As regulation in other industries has shown, sweeping legislation is incredibly complicated to implement and even more difficult to enforce.The effectiveness of any such regulation also assumes the need to cash out. Many people see cryptocurrencies like bitcoin as an evolution of existing currency.