I think government regulations is good for cryptocurrency. It only implies that if there is regulations, there is recognition on the part of the government.
In that sense, crypto enthusiasts feel more secured and confident with their investment.
I think it will be good for crypto if a government regulates it. Aside from giving an impression of acceptance, regulations would help minimize fraud incidents. Cyber criminals should also be caught. Lastly, a certain crypto business will also draw investors because it has been accredited by the government.