that is only true if we assume the regulations and the government is there to protect you and your money but the reality is not like this.
Absolutely this. The government (any government) only want involved so they can slap taxes on purchases, sales, trades, exchanges, etc. Any consumer protection or price stabilisation is a distant second to their main aim of taking a slice of the pie.
I agree that the true intentions of the government is not to protect the people, but to prevent people to gained too much financial freedom, we don't need the government at all to make crypto grow, but we need the government to stay out of the crypto, which is impossible, because the government want to tax the citizen in every possible way