It's that same pattern all over again:
People cry/fight for less control but want the government to still protect them from their own greed/stupidity. Reminds me of that Family Guy Episode, where they wanted an uncontrolled city, just to reimplement taxes and the government, I'll post the Episode as soon as i found it.
Bitlicense is also a wonderful example, there are like 5 licenced companies within 4+ years

I think instead of regulations, there should be more audits (maybe paid or whatever) and reviews in order to verify legit projects (kind of swarm intelligence).