Though its easy to see why governments would want to regulate the movement of digital currencies, the reality of doing so is much harder. A lot of wallets have no identification to them and rest on a server in a third party country. In the case of offline wallets in devices such as the Ledger Nano, theyre not connected to any network.so is it possible to regulate ?
It is not an easy task to regulate the currency which you cannot control such as cryptocurrency because it's decentralized and anonymous nature.
Centralized database will be easier to regulate because the authorities can have access into it, but not with decentralized database.
Government may still seek for a way to control and regulate crypto for the future.